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Give examples of how to use the concept of elasticity 1) including an explanation of why or how businesses might use the concept of elasticity; and 2)Give examples of negative/positive externalities, defend your position on why you be believe they are externalities. What can governments do to correct for these market failures?
This document contains various important questions and their appropriate answers in the subject field of Economics.
Economics is the study of the principles governing the allocation of scarce means among competing ends when the objective of the allocation is to maximize the attainment of the ends.
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