Multiple Choice
When a shift in demand or supply occurs, economists can make a quick prediction of the change in price. The denominator of the simple price-change formula is the:
A) multiple of the elasticities of supply and demand.
B) sum of the elasticities of supply and demand.
C) difference between the elasticities of supply and demand.
D) percent change in either demand or supply.
Correct Answer:
Verified
Correct Answer:
Verified
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