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ECN 3100 PRINCIPLES OF ECONOMICS

ECN 3100 PRINCIPLES OF ECONOMICS. Elasticity (cont.). Elasticity. Price Elasticity of Demand %?Qd %?P Demand tends to be more elastic : the larger the number of close substitutes. if the good is a luxury. the more narrowly defined the market. the longer the time period.

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Supply eds - PowerPoint PPT Presentation

ECN 3100 PRINCIPLES OF ECONOMICS