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Income Elasticity of Demand
A measure of how much the quantity demanded of a good responds to a change in consumers' income.
Quantity Demanded
The amount of a good or service that consumers are willing to buy at a specific price, at a given time.
Own Price Elasticity
A measure of how the quantity demanded of a good responds to a change in the price of that good, keeping other factors constant.
Athletic Shoes
are specially designed footwear aimed at enhancing performance in sports and physical activities.
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