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In economics, the price elasticity of demand (PED) is an elasticity that measures the nature and degree of the relationship between changes in quantity demanded of a good and changes in its price(). So basically, if the price of a good falls it is anticipated that there will be an increase in the quantity demanded or the other way around...
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In economics, the price elasticity of demand (PED) is an elasticity that measures the nature and degree of the relationship between changes in quantity demanded of a good and changes in its price(). So basically, if the price of a good falls it is anticipated that there will be an increase in the quantity demanded or the other way around...
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General points of the essay
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