MCQOPTIONS
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MCQOPTIONS
| 1. |
Income elasticity of demand is defined as the responsiveness of: |
| A. | Quantity demanded to a change in income |
| B. | Quantity demanded to a change in price |
| C. | Price to a change in income |
| D. | Income to a change in quantity demanded |
| Answer» B. Quantity demanded to a change in price | |