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Explain the Impact of a Change in Demand on Price

question 96

Essay

Explain the impact of a change in demand on price, when supply elasticity differs.


Definitions:

Physical Zone

A specific, tangible area or space designated for a particular purpose or activity.

Arbitrate

To mediate or resolve disputes between parties by making a decision or judgment that is binding upon those involved.

Managers

individuals responsible for controlling or administering an organization or group of staff.

Persuasive Communication

The act of using arguments, appeals, or messages with the goal of influencing the attitudes, beliefs, or behaviors of others.

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