Write about Income Elasticity of Demand
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Heya.....
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Income elasticity of demand .....
It is the measurement of degree of change in quantity demanded with some change in income of the consumer.....
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It has positive in relation with income and price,,,
At high income more and luxuries goods are demanded...
At low income less and inferior goods are demanded....
=================
-- Be Brainly....
See here for your answer....
===========
Income elasticity of demand .....
It is the measurement of degree of change in quantity demanded with some change in income of the consumer.....
=================
It has positive in relation with income and price,,,
At high income more and luxuries goods are demanded...
At low income less and inferior goods are demanded....
=================
-- Be Brainly....
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In economics, income elasticity of demand measures the responsiveness of the quantity demanded for a good or service to a change in the income of the people demanding the good. It is calculated as the ratio of the percentage change in quantity demanded to the percentage change in income.
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