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How is the concept of elasticity useful to theories of supply and demand?
How is the concept of elasticity useful to theories of supply and demand?
aseforlife
4/3/09
How is the concept of elasticity useful to theories of supply and demand?
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trmichaels
4/3/09
Elasticity helps us understand how supply and demand change through the influence of various factors. It can help us know how the quantities of supply and deman will change when prices change.
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How is the concept of elasticity useful to theories of supply and demand?
