The authors demonstrate that most textbooks are ambiguous at best in their treatment of cross-price and income elasticity of demand. There is also no discussion of what initiates a price increase in discussions of substitutes and complements in the textbooks examined. The authors offer a remedy...

The “surprise value” of many economic observations makes our discipline quite interesting for many students. One such anomaly is that providing “free” education in an effort to reduce the number of drop-outs can often result in a smaller amount of education purchased. This result is very...

The “surprise value” of many economic observations makes our discipline quite interesting for many students. One such anomaly is that providing “free” education in an effort to reduce the number of dropouts can often result in a lower level of educational quality purchased. This result...