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    Economics An Introduction
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    Exam 27: Simple Analytics of Supply and Demand
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    Understand and Describe What Happens When a Market Is Not
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Understand and Describe What Happens When a Market Is Not

Question 94

Question 94

Essay

Understand and describe what happens when a market is not in equilibrium.
-How is price elasticity of demand calculated? Why do we use absolute values for price elasticity of demand?

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