Economists use the absolute value of the price elasticity of demand.
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Q272: (Figure) The graph depicts a market with
Q273: (Figure) The figure shows a market with
Q274: The current equilibrium price in the market
Q275: Elasticity is a measure of the responsiveness
Q276: The concept of elasticity is limited to
Q278: The elasticity value of a perfectly elastic
Q279: When there are many substitutes for a
Q280: A commodity that has a price elastic
Q281: The flatter the demand curve, the less
Q282: The demand for a necessity is more
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