Income elasticity of demand is defined as the responsiveness of

Income elasticity of demand is defined as the responsiveness of

Q. Income elasticity of demand is defined as the responsiveness of:

  1. Quantity demanded to a change in income
  2. Quantity demanded to a change in price
  3. Price to a change in income
  4. Income to a change in quantity demanded

Answer: Quantity demanded to a change in income

Demand and Supply MCQs
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