%3D3 œ #3Dz3 • (1 - "3P8/!3)[P8 - 1/("з — #3)],
œ #3DZ3 • (1 - %3Q)[p8 - 1∕("3- #3)], (12)
where !3 is the budget share of good i. Again, in comParison with the semilog demand
system where quality enters in a similar way (Table 1), the semilog own quality elasticity
has additional terms involving %3Q and ("3 -#3), which gives increased flexibility.
The Marshallian cross-quality slopes are given by
'X3∕'Z4 œ #4Dp8("3 - #3 )e# ' !# P
œ#4Dp48(x3 -"3M),
and the Marshallian cross-quality elasticities are
` = 'X3 . z4
'■ ■ ´ ∂z2 X3
œ #4Dz4p8 • (1 - "3P8/!3).
œ#4Dz4p48 •(1 -%3Q). (13)
Similarly to the price effects, the cross-quality effect in the DS system has an eXtra term,
(1 - %37), relative to the semilog system (Table 1). Combining (12) and (13) with (11),
the full set of relationships between quality, price, and income effects within a given
demand function are
More intriguing information
1. The name is absent2. The name is absent
3. Anti Microbial Resistance Profile of E. coli isolates From Tropical Free Range Chickens
4. Restructuring of industrial economies in countries in transition: Experience of Ukraine
5. Workforce or Workfare?
6. The name is absent
7. How does an infant acquire the ability of joint attention?: A Constructive Approach
8. Structural Conservation Practices in U.S. Corn Production: Evidence on Environmental Stewardship by Program Participants and Non-Participants
9. Work Rich, Time Poor? Time-Use of Women and Men in Ireland
10. Institutions, Social Norms, and Bargaining Power: An Analysis of Individual Leisure Time in Couple Households