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What is the price elasticity of demand?
It is the Defining and Measuring Elasticity.
The price elasticity of demand is the ratio of the percent modification into the quantity demanded to the percent change into the price as
we shift along the demand curve.
Price elasticity of demand = (% change in quantity demanded)/(% change in price)
Diagramatic explanation of pareto optimality
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Classical Quantity Theories Quantity theories have had a long history and a widespread use in economics. As originally formulated these were not explicitly designed as theories
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