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Essay

ECON TERM PAPER

Essay specific features

 

Issue:

Business

 

Written by:

Steven D

 

Date added:

February 27, 2016

 

Level:

University

 

Grade:

B

 

No of pages / words:

3 / 614

 

Was viewed:

6177 times

 

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Essay content:

Here in this article it is mention how the demand elasticity has changed the percentage due to the percentage change in the price. In this article it is stating how a barrel of oil has had a 575% change in price from the year 1999 till now. The demand elasticity also has its own determinants, that determines if the good is price elastic or not...
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There are many determinants here are a few that are taking into consideration a lot. They are: the availability of substitutes, necessities over luxury, definition in the market. In this case gas price is going up and it s not going down but the demand keeps on rising because it is a necessity for people where public transportation is not that well off...
displayed 300 characters

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