Business, 22.06.2021 03:50 DangerDash
Income elasticity measures the:.
A. Responsiveness of quantity demanded for one good to a percentage change in price of another good.
B. Percentage change in quantity demanded given a percentage change in wealth.
C. Responsiveness of quantity demanded to a percentage change in income.
D. Way in which consumers switch from one product to another when price rises.
Answers: 1
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Income elasticity measures the:.
A. Responsiveness of quantity demanded for one good to a percentag...
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