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The higher the measure then the more. Demand and elasticity worksheet definition of elasticity of demand: A situation in which quantity demanded or quantity supplied changes little as price changes (pp. When a given change in price causes a relatively large change in quantity demand. It is a measure of how responsive quantity is to a price change.
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The Extent To Which A Change In Price Causes A Change In The Quantity Demand.
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It Is A Measure Of How Responsive Quantity Is To A Price Change.
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