Economy, asked by gvaralakshmi5, 1 month ago

what is meant by income elasticity of demand?

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Answered by RISHANK2006

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.Answer:

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Answered by shivushivakumar0012

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