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liq [111]
3 years ago
15

What is income elasticity onlyy

Business
1 answer:
Lina20 [59]3 years ago
8 0

Income elasticity of demand measures the receptiveness of the quantity demanded for a good or service to a change in income.

It's calculated as the ratio of the percentage change in quantity demanded to the percentage change in income.

Explanation:

Hope this helps!!

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Answer and Explanation:

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