The income effect measures the change in the quantity demanded of a good

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    as a result of the change in relative prices, holding income and satisfaction constant.
     as a result of the change in the quantity demanded of a good that results from the change in the price of that good relative to another, holding all else constant.
     as a result of the change in the purchasing power and is calculated as the total effect on quantity demanded minus the substitution effect.
     as a result of the change in relative prices and purchasing power, holding satisfaction constant.
asked Jun 2, 2013 in Economics by anonymous
    

1 Answer

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as a result of the change in the purchasing power and is calculated as the total effect on quantity demanded minus the substitution effect.
answered Jun 3, 2013 by Xyz ~Expert~ (3,650 points)

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