The Income Elasticity of Demand Is (Mathematically)

question 87

Multiple Choice

The income elasticity of demand is (mathematically)

• A)The percentage change in income divided by the percentage change in price
• B)The percentage change in quantity demanded divided by the percentage change in price.
• C)The percentage change in quantity demanded divided by the percentage change in income.
• D)The percentage change in the portion of a person's budget that they will spend on a good divided by the percentage change in income

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