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Name three goods or services with highly elastic price elasticity of supply. Name three goods or services with highly inelastic price elasticity of supply. Give a brief description of each of these six goods or services.
Microeconomics, Economics
Question - a. If the price elasticity of demand is given by the expression E(p) = -p 2 /(p 2 + 3p + 2). Find the demand function q D (p) given that q D (1) = 8. b. A consumer has $100 to spend on two commodities X and Y. ...
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