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Microeconomics First test Flashcards | StudBud
Microeconomics First test
1 / 9
Income elasticity of demand
A
sensitivity of quantity demanded to income=(∆Q/Q)/(∆I/I)
B
sensitivity of quantity demanded to income=(∆I/I)/(∆Q/Q)
C
sensitivity of price to income=(∆P/P)/(∆I/I)
D
sensitivity of income to quantity demanded= (∆I/I)/(∆Q/Q)
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