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fatsoulmh fatsoulmh
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2 years ago
Income elasticity of demand measures the extent to which

▸ one household's income changes when there is a change in the income of another household.

▸ real household income changes when there is a change in the price of a good.

▸ the price of a good changes when there is a change in income.

▸ the quantity demanded of a good changes when income changes.

▸ quantity demanded changes when there is a change in price.
Textbook 
Microeconomics

Microeconomics


Edition: 17th
Author:
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iffn23iffn23
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2 years ago
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fatsoulmh Author
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2 years ago
I appreciate what you did here, answered it right Smiling Face with Open Mouth
Marcie D
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Yesterday
Brilliant ツ
sleinhi
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2 hours ago
this is exactly what I needed
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