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  • 31-08-2022
  • Business
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when the percentage change in the price is greater htan the resulting percentage change in quantity demanded,

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camdynnicole
camdynnicole camdynnicole
  • 31-08-2022
The price elasticity of supply is given by a similar formula: If the percentage change in quantity demanded is greater than the percentage change in price, demand is said to be price elastic, or very responsive to price changes.
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