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13 July, 22:39

In general, elasticity is a measure ofa. the extent to which advances in technology are adopted by producers. b. the extent to which a market is competitive. c. how firms' profits respond to changes in market prices. d. how much buyers and sellers respond to changes in market conditions.

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  1. 13 July, 23:01
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    The answer is: D) how much buyers and sellers respond to changes in market conditions.

    Explanation:

    By definition price elasticity measures how much the quantity demanded or the quantity supplied of a good will change if the price of the good changes.

    In more simple terms, elasticity measures how buyers (consumers) and sellers (suppliers) respond to changes in the price of a product or service (market conditions include the price of goods and services).
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