The Income Elasticity of Demand Measures

question 261

Multiple Choice

The income elasticity of demand measures

• A)the responsiveness of quantity demanded to changes in income.
• B)how a consumer's purchasing power is affected by a change in the price of a product.
• C)the percentage change in the price of a product divided by the percentage change in consumer income.
• D)the income effect of a change in price.

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Definitions:

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