Question:
How does Price Elasticity for both Demand and Supply affect the New Equilibrium Point [If a Shift Occurred]
Author: eric_galvaoAnswer:
-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 %
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