More on Elasticity

More on Elasticity - Total Revenue(TR)=PxQ The larger the...

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Elasticity: Insulin is close to being perfectly inelastic, but not is completely perfectly inelastic Steeper the curve, the less elastic Flatter the curve, the more elastic Perfect Elastic=E=0 Perfectly Inelastic=E=0
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Unformatted text preview: Total Revenue(TR)=PxQ The larger the number of substitutes, the larger the elasticity-The more time that has passed since a price change, the larger the elasticity....
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