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1. Elasticity and Its Application 2. Elasticity – The concept The responsiveness of one variable to changes in another When price rises what happens to demand? Demand falls…

Documents Chapter 4 Individual and Market Demand Individual and Market Demand.

Slide 1Chapter 4 Individual and Market Demand Individual and Market Demand Slide 2 Chapter 4Slide 2 Topics to be Discussed Individual Demand Income and Substitution Effects…

Documents ECON101-week3pdf (4)

IND201 Introduction to Economics Lecturer Ozan Uçuk Demand and Supply ECON101 Introduction to Economics -I Demand and Supply 1. Firms and Households 2. Input Markets and…

Documents Chapter 4 Individual and Market Demand. ©2005 Pearson Education, Inc. Chapter 42 Topics to be...

Slide 1 Chapter 4 Individual and Market Demand Slide 2 ©2005 Pearson Education, Inc. Chapter 42 Topics to be Discussed Individual Demand Income and Substitution Effects…