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Income Elasticity of Demand Calculator
Income Elasticity Formula:
YED = %ΔQuantity Demanded / %ΔIncome
YED = [(Q2-Q1)/Q1] / [(Y2-Y1)/Y1] Ă— 100
Quantity Demanded
Initial Quantity (Q1):
New Quantity (Q2):
Consumer Income
Initial Income (Y1):
New Income (Y2):
Calculate Income Elasticity