Multiple Choice
The income elasticity of demand equals the percentage change in ________,other things remaining the same.
A) price divided by the percentage change in income
B) price divided by the percentage change in quantity demanded
C) income divided by the percentage change in quantity demanded
D) quantity demanded divided by the percentage change in price
E) quantity demanded divided by the percentage change in income
Correct Answer:
Verified
Correct Answer:
Verified
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