Economy, asked by Chitti8279, 2 months ago

example of zero income elasticity of demand

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Answered by mahi6429
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If the quantity demanded for a commodity remains constant with any rise or fall in income of the consumer and, it is said to be zero income elasticity of demand. For example: In case of basic necessary goods such as salt, kerosene, electricity, etc. there is zero income elasticity of demand

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