Flashcard sets with a 'income elasticity of demand' term meaning 'a measure of how much the quantity demnded of a good responds to a change in consumers' income, computed as the percentage change in quantity demanded divided by the percentage change in income'

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See other definitions of term:income elasticity of demand

1-1 of 1Flashcard sets with a 'income elasticity of demand' term meaning 'a measure of how much the quantity demnded of a good responds to a change in consumers' income, computed as the percentage change in quantity demanded divided by the percentage change in income'
# Title Terms Date
1econ chapter 5by bryanken6 termsJuly 14, 2009
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