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Elasticity of Demand

Tags: YouTube
Description: How much does quantity demanded change when price changes? By a lot or by a little? Elasticity can help us understand this question. This video covers determinants of elasticity such as availability of substitutes, time horizon, classification of goods, nature of goods (is it a necessity or a luxury?), and the size of the purchase relative to the consumer’s budget. Microeconomics Course: http://bit.ly/20VablY Ask a question about the video: http://bit.ly/1XMZi5P Next video: http://bit.ly/1Um3Obx Help us caption & translate this video! http://amara.org/v/GCsX/
Views: 53
Category: Auto Create - CC_LARCH_ECON101
YouTube URL: https://youtu.be/J82_xd5XxXg
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