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Buffl
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Lecture 5

DD
by Dosty D.

Explain what makes Price Elasticity elastic and inelastic and give for both an example

What is the “Price Elasticity of Demand“ and how you calculate it?

What can you say about and Prefect (in-)elastic Curve and how does the Price Quantity scale looks like?

What is the “Price Elasticity of Supply” and how do you calculate it?

What is the “Income Elasticity” and how do you calculate it?

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Dosty D.

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