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Economics (Boundless)
6: Elasticity and its Implications

6: Elasticity and its Implications

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Jan 4, 2021
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- 5.2: Theory of Consumer Choice
- 6.1: Price Elasticity of Demand

Boundless
Boundless

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Topic hierarchy

6.1: Price Elasticity of Demand
The price elasticity of demand (PED) measures the change in demand for a good in response to a change in price.
6.2: Other Demand Elasticities
The cross-price elasticity of demand measures the change in demand for one good in response to a change in price of another good.
6.3: Price Elasticity of Supply
The price elasticity of supply is the measure of the responsiveness in quantity supplied to a change in price for a specific good.

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