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Social Studies, 28.12.2019 10:31 oddsome74

What is the best definition of elasticity in economics?

elasticity of supply measures how the amount of a good changes when the producer hires more employees.
elasticity of supply measures how the amount of a good changes when the producer uses new materials.
elasticity of demand measures how the amount of a good changes when its price goes up or down.
elasticity of demand measures how the amount of a good changes when its distribution expands.

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What is the best definition of elasticity in economics?

elasticity of supply measures h...

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