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Elasticity of Demand & Supply
PRICE ELASTICITY OF DEMAND
PRICE ELASTICITY OF DEMAND
This topic covers the price elasticity of demand and supply, skill in measuring the elasticity value, understands the degree of demand and supply elasticity and factors influencing the elasticity of demand and supply.
This topic covers the price elasticity of demand and supply, skill in measuring the elasticity value, understands the degree of demand and supply elasticity and factors influencing the elasticity of demand and supply.
This is perhaps the most important microeconomic concept that you will come across in your initial studies of economics.
The key is to understand the formula for calculating the coefficient of price elasticity, the factors that affect elasticity and also why elasticity is important for businesses when setting their prices.
Determinants of Price Elasticity of Demand
Determinants of Price Elasticity of Demand
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