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AP Microeconomics: Elasticity

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Last update by swtxhunnie on 05/07/2009
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AP Microeconomics Elasticity
AP Microeconomics: Elasticity
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to review the concept of elasticity in preparation for the AP Microeconomics exam
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Taylor Cleland
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Free Flashcard From AP Microeconomics: Elasticity
Question: True or False: when determining the price elasticity ratio for a good, one should include the direction of change (i.e. -5% is different than 5%).
Answer: False; the ratio should compare absolute values of change.

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