9. In general, elasticity is a measure of a. the extent to which advances in technology are adopted by producers. b. the extent to which a market iscompetitive. c. how fast the price of a good responds to a shift of the supply curve or demand curve. d. how much buyers and sellers respond to changes in market conditions.
9. In general, elasticity is a measure of a. the extent to which advances in technology are adopted by producers. b. the extent to which a market iscompetitive. c. how fast the price of a good responds to a shift of the supply curve or demand curve. d. how much buyers and sellers respond to changes in market conditions.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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9. In general, elasticity is a measure of
a. the extent to which advances in technology are adopted by producers.
b. the extent to which a market iscompetitive.
c. how fast the
d. how much buyers and sellers respond to changes in market conditions.
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