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Tax revenue pseller q2 - PowerPoint PPT Presentation

Elasticity

Elasticity. adding (quantitative) meat to the bones of supply and demand. Suppose the price of gas rises by 10% over the next month. By how much will Ohio drivers cut back on their purchases of gasoline?. 0 percent (no cut back) 1 to 5 percent 6 to 10 percent 11 to 20 percent

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Tax revenue pseller q2 - PowerPoint PPT Presentation

Elasticity