Multiple Choice
Income elasticity of demand is defined as
A) the change in price divided by change in income.
B) the change in demand divided by the change in income.
C) the change in demand divided by change in income.
D) the percentage change in demand divided by percentage change in income.
E) the percentage change in demand divided by percentage change in price.
Correct Answer:
Verified
Correct Answer:
Verified
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