Answer to Question #223707 in Microeconomics for France

Question #223707

The income elasticity of demand for good measures the responsiveness of _____to a change in ______


1
Expert's answer
2021-08-06T08:13:06-0400

Income elasticity of demand refers to the sensitivity of the quantity demanded for a certain good to a change in real income of consumers who buy this good, keeping all other things constant.


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