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| Economics Questions on elasticity of supply and demand...anyone help?
I have a couple questions I am having difficulty on in my Economics assignment: 2. For a given shift in deman, the more elastic is supply: a. the smaller is the change in price. b. the greater is the change in price c. the smaller is the shift in demand d. the greater is the shift in demand e. the smaller is the change in equilibrium quantity. 23. the price elasticity of supply is a measure of a. how sensitive producers are to a change in input prices. b. how long it takes for producers to change their prices c. how long it takes producers to change technology d. how sensitive producers are to a change in output price e.how sensitive producers are to a change in technology |
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