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Illusion [34]
1 year ago
6

The income elasticity of demand is the percentage change in the ________ divided by the percentage change in ________.

Business
1 answer:
Kisachek [45]1 year ago
6 0

The income elasticity of demand is the percentage change in the <u>quantity​ demanded</u> divided by the percentage change in <u>income</u>.

Elasticity refers back to the diploma of the sensitivity of a variable consistent with every other variable's trade. in this manner, you could truly diploma the alternate in the aggregate product call for with appreciation to fee adjustments. In different phrases, it is called elasticity of call for.

An example of merchandise with an elastic demand is consumer durables. those are devices that may be purchased every now and then, like a washing device or an automobile, and can be postponed if the rate rises. as an example, automobile rebates were very a success in growing car earnings by using lowering the rate.

Learn more about elasticity here: brainly.com/question/5078326

#SPJ4

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