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What is the price elasticity of demand coefficient?
Used Clothing
Clothing that has been previously worn and is often sold at lower prices than new clothing; it's part of the second-hand market.
Income Elasticity of Demand
A measure of how much the quantity demanded of a good changes as a consumer's income changes.
Consumers' Incomes
The total amount of money earned by consumers, which affects their purchasing power and demand for goods and services.
Proportionately Faster
Implies a rate of increase or growth that exceeds another in relative terms, not just in absolute numbers.
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