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What is Supply and Demand Elasticities Explained about?

This chapter discusses applying the economic concepts of supply and demand, including: 1) How the shape of supply and demand curves impact the market. 2) The price elasticity of demand and supply - how sensitive quantity is to price changes. 3) The differences between short-run and long-run elasticities. 4) How sales taxes affect the supply-demand model and who really bears the burden of the tax. The document provides teaching tips for instructors on explaining these concepts and gives examples to help

Author

smc

Language

EN