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Answer to Question #232981 in Macroeconomics for Sello

Question #232981
Distinguish between income elasticity of demand and cross elasticity of demand
1
Expert's answer
2021-09-03T13:49:31-0400

Income elasticity of demand measures how demand of a good respond to a change in income while cross elasticity of demand measures demand for one good respond to changes in the price of another good.


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