Economy, asked by addinas6677, 10 months ago

Calculate income elasticity of demand, if income increases from Br.10, 000 to Br. 20,000 and if income increases from Br.40, 000 to Br. 50,000.

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Answered by hemlatasantosh8584

Answer:

Income Elasticity of Demand: Income elasticity of demand is defined as the responsiveness of demand to a change in income, with other things remaining constant.

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