Posted: December 12th, 2016

What is the definition of Price Elasticity.

2. How does supply affect Price Elasticity? Give two examples: one from your workplace (or former workplace) and one personal.

3. How does demand affect Price Elasticity? Give two examples: one from your workplace (or former workplace) and one personal.

4. Do you feel demand affects Price Elasticity differently in a recessionary economy? Why or why not?

5. Do you feel supply affects Price Elasticity differently in a recessionary economy? Why or why not?

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