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What is the income elasticity of demand when income changes by 20% and demand changes by 40%?
Most Upvoted Answer
What is the income elasticity of demand when income changes by 20% and...
Formula for income elasticity is
Change in demand /change in price
=40/20=2
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What is the income elasticity of demand when income changes by 20% and...
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What is the income elasticity of demand when income changes by 20% and demand changes by 40%?
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What is the income elasticity of demand when income changes by 20% and demand changes by 40%? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about What is the income elasticity of demand when income changes by 20% and demand changes by 40%? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for What is the income elasticity of demand when income changes by 20% and demand changes by 40%?.
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