SEARCH
You are in browse mode. You must login to use MEMORY

   Log in to start


From course:

Economics A Level (DONEEEEEEE)

» Start this Course
(Practice similar questions for free)
Question:

How does Price Elasticity for both Demand and Supply affect the New Equilibrium Point [If a Shift Occurred]

Author: eric_galvao



Answer:

-If the Elasticity of Supply or Demand was Inelastic [or Both] then the Shift in either of them would have Price be more Affected in terms of % -If the Elasticity of Supply or Demand was Elastic, then Quantity would be more Affected in terms of %


0 / 5  (0 ratings)

1 answer(s) in total