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Definition of Elasticity
Is defined as the ratio of the relative change of one (dependent) variable to changes in another (independent) variable, or it's a percentage change of one variable given a one percent change in another.
Elasticity of Demand
Measures the extent to which the quantity demanded of a good responds to changes in one of the factors affecting demand.
managerial principles to consider when determining level of output of afirm
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CAPITAL ACCOUNT This records all transactions arising from capital movements into and out of the country. There are a variety of such capital flows recorded, namely: i.
incremental raising
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