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- In economics, the income elasticity of demand is the responsiveness of the quantity demanded for a good to a change in consumer income. It is measured as the ratio of the percentage change in quantity demanded to the percentage change in income. If a 10% increase in Mr. Smith's income causes him to buy 20% more bacon, Smith's income elasticity of demand for bacon is 20%/10% = 2.
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incombustible, incombustibleness, incombustibly, incombustion, income, incomeless, incomer, incoming, incommensurability, incommensurable
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