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The ratio of the proportionate change in the quantity purchased of agood to the proportionate change in income:

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Question:

The ratio of the proportionate change in the quantity purchased of agood to the proportionate change in income:

A.

price elasticity

B.

income elasticity

C.

cross elasticity

D.

none

Answer» b. income elasticity

Note: The above multiple-choice question is for all general and Competitive Exams in India.