English, asked by ritusrivastav937, 1 month ago

Give economy term. Degree of responsiveness of quantity demanded to change in income only.​

Answers

Answered by daneshkapasi
2

Answer:

Answer: Income elasticity of demand is an economic measure of how responsive the quantity demand for a good or service is to a change in income. The formula for calculating income elasticity of demand is the percent change in quantity demanded divided by the percent change in income.

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