Elasticity
Ag. Business unit 5
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Topics of this game:
- when price elasticity of demand for a good is less than one.
- when price elasticity of demand for a good exceeds one.
- as price of good increases , the quantity demanded decreases
- a shift in demand curve is a ________ in demand
- may cause a change in demand
- commodities with large positive cross- price elasticities are close ______ commodities
- commodities with large negative cross-price elasticities are close_____ commodities
- income elasticity is less than one but greater than zero, the good is ____ a ____
- many nonfood products and most food and beverages, are considered _____
- normal goods have ____ coefficients
- ____ goods have negative coefficients
- reciprocal of own-price elasticity is know is as price ____
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