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It is a measure of how responsive quantity is to a price change. Terms in this set 30.

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Demand is elastic When a. Web Chapter 4 13 Chapter 4 Elasticity. DEMAND AND ELASTICITY WORKSHEET Definition of Elasticity of Demand.

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Web Chapter 4 Elasticity of Demand Lesson 3 Economics Demand elasticity Extent to which change in price causes change in the quantity demanded. Use the Elasticity formula to calculate values. The price elasticity of demand equals the percentage change in the.

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