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ECONOMICS 2302 Topic 6 Elasticity Videos
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1. For each pair of goods, determine which one would have a relatively more elastic demand curve. Gasoline at your local gas station or gasoline in your city Plain white T – shirt or all clothing Rice or jewelry 2. Cross – price elasticity of demand uses Negative and positive values to determine is good are substitutes or complements 3. ________ elasticity of demand is a measure of how responsive the quantity demanded is to a change in price. Price 4. Which of the following statements are true? The elasticity calculation uses percentage changes in the price and quantity
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San Jacinto College
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