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raalsale Group Title

what the diferent btween elasticity in demand and supply?

  • one year ago
  • one year ago

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  1. Signjoy Group Title
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    Elasticity of demand is change in quantity demanded per unit change in price. Elasticity of supply is change in quantity supplied per unit change in price.

    • one year ago
  2. Klanfer Group Title
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    Remember that elasticity is a concept related to percentage. The price-elasticity of demand is the folowing fraction: % change in quantity demanded / % change in price. For the supply case, just think of the % change in quantity supplied

    • one year ago
  3. Year11economics Group Title
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    A good way to look at it is through graphs! (yay graphs) |dw:1351679359470:dw|

    • one year ago
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