Income elasticity of demand

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    Measures the sensitivity of price to income, and is calculated using the equation (?P/P)/(?I/I), or (I/P)?(?P/?I).
     Measures the sensitivity of quantity demanded to income, and is calculated using the equation (?Q/Q)/(?I/I), or (I/Q) ? (?Q/?I).
     Measures the sensitivity of quantity demanded to income, and is calculated using the equation (?I/I)/(?Q/Q), or (Q/I) ? (?I/?Q).
     Measures the sensitivity of income to quantity demanded, and is calculated using the equation (?I/I)/(?Q/Q), or (Q/I) ? (?I/?Q).
asked Jun 2, 2013 in Economics by anonymous
    

1 Answer

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Measures the sensitivity of quantity demanded to income, and is calculated using the equation (?Q/Q)/(?I/I), or (I/Q) ? (?Q/?I).
answered Jun 3, 2013 by Xyz ~Expert~ (3,650 points)



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