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Micro 2.3-Elasticity Summary Recap

Last updated 6 months ago

4 questions

1

Question 1

1.

Elasticity of Demand provides information about....

1

Question 2

2.

How does perfectly elastic demand differ from perfectly inelastic demand?

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1

Question 3

3.

Name at least 2 determinants of price elasticity of demand?

Question 4

4.

What are the three main determinants of price elasticity of demand that relate toward the "Availability of Substitutes"?