Elasticity
- Created by: Lottie
- Created on: 20-09-12 08:57
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Elasticity
PES
· Price elasticity of supply: % change in quantity supplied/ % change in price
· Determinants: level of spare capacity, state of economy, ease of entry into market
PED
· Price elasticity of demand: % change in quantity demanded/% change in price
· Determinants:…
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