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DP Econ - 2.5.1 - Price Elasticity of Demand - Microeconomics
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YouTubeKevin Means Business
DP Econ - 2.5.1 - Price Elasticity of Demand - Microeconomics
This is Unit 2.5.1 of the IB DP Economics Course. In this lesson we learn all about price elasticity of demand. Here's what you need to know: 00:00 - Intro 00:31 - Explain the concept of elasticity 01:30 - Draw diagrams for a relatively elastic and inelastic demand 02:40 - Draw diagrams showing the range of values for PED including ...
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Elasticity of Demand | Definition, Formula & Calculation
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