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Extensions of Demand and Supply Analysis and the Efficiency of Markets





About price elasticity of demand and how it can be applied.

The usefulness of the total revenue test for price elasticity of demand.

About price elasticity of supply and how it can be applied.

About cross elasticity of demand and income elasticity of demand.

To apply the concept of elasticity to realworld situations.

About consumer surplus, producer surplus, and efficiency losses.







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