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Demand elasticity to producers and the government

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Reference no: EM131089023

1) What is the difference between cardinal and ordinal utility giving assumptions in each case.

2) Give the difference between a movement along deamnd curve and a shift of a demand curve high lighting determinants in each case.

(a) Illustrate using diagrams.

3) Explain the importance of the concept of the demand elasticity to producers and the government

Reference no: EM131089023

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