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What is the formula for the income elasticity of demand?

$\mathrm{E}=\frac{\% \mathrm{d} \mathrm{Q}}{\% \Delta \mathrm{I}}$

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Chapter 5

Elasticity

How Markets Work

Markets and Welfare

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Okay, So what's the formula for the incoming necessity of the Met? Well, the incoming assistive event wants to measure how responsive that the mantis in changes to your income. So we wanna calculate the percentage change in demand where in quantity, demented over the percentage change in income. So the formula simply percent is changing quantity demented, divided by that, the percentage change in Inca.

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