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17 June, 14:30

Income elasticity of demand measures how

a. the price of a good is affected when there is a change in consumer income.

b. many units of a good a consumer can buy given a certain income level.

c. the quantity demanded changes as consumer income changes.

d. consumer purchasing power is affected by a change in the price of a good.

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  1. 17 June, 16:34
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    The quantity demanded changes as consumer income changes.
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