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Lauren1 Lauren1
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Posts: 4120
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9 years ago
Demand is income elastic if
A) a large percentage increase in income results in a small percentage increase in quantity demanded.
B) a small percentage increase in income results in a large percentage increase in quantity demanded.
C) an increase in income does not affect the quantity demanded.
D) the good in question has close substitutes.
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MrDerecheMrDereche
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#1
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9 years ago
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Lauren1 Author
wrote...
#2
9 years ago
Thank you, this really, really helps Heavy Heart
wrote...
#3
9 years ago
You're welcome!
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