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SignjoyBest ResponseYou've already chosen the best response.0
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

KlanferBest ResponseYou've already chosen the best response.0
Remember that elasticity is a concept related to percentage. The priceelasticity 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

Year11economicsBest ResponseYou've already chosen the best response.0
A good way to look at it is through graphs! (yay graphs) dw:1351679359470:dw
 one year ago
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