Science2019
06.03.2020 •
Business
1. (a) Write down the generic formula for elasticity of variable Y with respect to variable X. (b) Write down the formula for the cross-price elasticity of the demand for Mercedes Benz with respect to the prize of BMW. (c) Is elasticity the same thing as slope? What it the difference(s)? (d) When is supply elastic, inelastic, and unitary elastic?
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