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Econ discussion - Assignment Example

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Substitutability is another factor other than price that could influence the elasticity of demand for animals from the animal shelter. According to Stock (77), the greater the number of available substitute goods, the greater the elasticity. Thus, the more substitutable the…
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Econ discussion assignment

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Econ discussion

Download file to see previous pages... When demand is inelastic, price and total revenue relate directly. Hence, when the price rises, the total revenue also ...Download file to see next pagesRead More
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