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Match the following (a) Responsiveness of 1. Income elasticity of demand to change demand in price (b) Responsiveness of 2. Price elasticity of demand to change demand in tastes (c) Responsiveness of 3. Cross elasticity of demand to change demand in income (d) Responsiveness of 4. Taste elasticity of demand to change demand in price of related goods Codes: (a) (b) (c) (d)

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Microeconomics is a branch of economics that analyzes market behavior of individuals and firms in order to understand their decision-making processes.


Match the following (a) Responsiveness of 1. Income elasticity of demand to change demand in price (b) Responsiveness of 2. Price elasticity of demand to change demand in tastes (c) Responsiveness of 3. Cross elasticity of demand to change demand in income (d) Responsiveness of 4. Taste elasticity of demand to change demand in price of related goods Codes: (a) (b) (c) (d)






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