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Study of Elasticities Examines the responsiveness of consumers and producers to a change in a variable in the marketplace Elasticity measures how much one factor changes in response to a change in a different factor

Contents IGCSE...  · Web viewUse this discussion to introduce the concept of price elasticity of demand (PED). Ask them to define PED. Show them how PED is calculated and ask them

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Int. Econ. Ch 4bishopaged.weebly.com/uploads/3/7/4/9/37498793/... · PRICE ELASTICITY OF DEMAND PED (Price elasticity of demand) is a measure of how much the quantity demanded of

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