Income elasticity of demand/Definition: Difference between revisions
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imported>Nick Gardner (New page: The percentage change in the demand for a product that is caused by a unit percentage change in consumers' incomes.) |
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The percentage change in the demand for a product that is caused by a unit percentage change in consumers' incomes. | The percentage change in the demand for a product that is caused by a unit percentage change in consumers' incomes. | ||
Latest revision as of 22:28, 22 May 2008
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Income elasticity of demand [r]: The percentage change in the demand for a product that is caused by a unit percentage change in consumers' incomes.