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    Gautam Verma
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    Elasticity is used to understand how quantities of goods and services respond to changes in economic factors like price. It helps analyze how demand and supply react to government policies on taxes, price controls, and international trade. Policies aimed at helping some groups can unintentionally hurt others, so elasticity allows economists to anticipate responses across a market.

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    Elasticity is used to understand how quantities of goods and services respond to changes in economic factors like price. It helps analyze how demand and supply react to government policies on taxes, price controls, and international trade. Policies aimed at helping some groups can unintentionally hurt others, so elasticity allows economists to anticipate responses across a market.

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    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
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    10 views11 pages

    Week 4 + 0

    Uploaded by

    Gautam Verma
    Elasticity is used to understand how quantities of goods and services respond to changes in economic factors like price. It helps analyze how demand and supply react to government policies on taxes, price controls, and international trade. Policies aimed at helping some groups can unintentionally hurt others, so elasticity allows economists to anticipate responses across a market.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 11

    Applications of Elasticity

    Application of Demand and Supply to Understand


    the Implications of Government Policies

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