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Price Elasticity of Supply

Price elasticity of supply is the measure of the responsiveness of quantity supplied to a change in price. A product is perfectly elastic when the the quantity supplied is infinite with the 1% change in price. A product is relatively ...

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Price Elasticity Of Demand

Price elasticity is a measure of effect of a price change or a change in the quantity supplied on the demand of a product or service. Price elasticity of demand is a measure that gives the percentage change in quantity ...