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- The … does not depend on the stock and market price of the product. #341
- … is a measure of a variable's sensitivity to a change in same variable. #342
- Elasticity is predominantly used to assess the change in consumer … as a result of a change in a good or service's price. #343
- When the value of … is greater than 1.0, it suggests that the demand for the good or service is not affected by the price. #344
- … elasticity is an economic measure of the sensitivity of demand relative to a change in another variable. #345
- … elasticity of supply measures the responsiveness of quantity supplied to a change in price. #346
- … supply is a change in price that causes a smaller proportional change in quantity supply. #347
- … tends to be more price inelastic in the short-run as consumers don’t have time to find alternatives. #348
- In the short run demand is not likely to be more … (low = less than 1). #349
- If the … of oil increases people with petrol cars will not buy petrol. #350