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Elasticity of Economics.
Elasticity is a measure of a variable's sensitivity to a change in another variable. In business and economics, elasticity refers the degree to which individuals, consumers or producers change their demand or the amount supplied in response to price or income changes. It is predominantly used to assess the change in consumer demand as a result of a change in a good or service's price.
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- Subject: Economics
- All documents for this course ›
- Course code: Economics 101
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- Section: Lecture notes
- Updated on: 10-07-2019
- Made on: 10-05-2019
- Type: .pptx
- Pages: 41
- Language: Nederlands
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