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svetlana [45]
2 years ago
9

when the percentage change in the price is greater htan the resulting percentage change in quantity demanded,

Business
1 answer:
Oliga [24]2 years ago
7 0
The price elasticity of supply is given by a similar formula: If the percentage change in quantity demanded is greater than the percentage change in price, demand is said to be price elastic, or very responsive to price changes.
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