lectur16-page19 - sensitive to prices). ‰ Ed ‰ = 1...

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19 Ed > 1 elastic demand (very responsive to price changes). Ed < 1 inelastic demand (not very
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Unformatted text preview: sensitive to prices). ‰ Ed ‰ = 1 unitary elastic (ratio of % D s = 1)....
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This note was uploaded on 12/29/2011 for the course ECO 210 taught by Professor Malls during the Fall '10 term at SUNY Stony Brook.

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