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10 March, 12:25

A measure of behaviors by producers and consumers in response to changes in price

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  1. 10 March, 12:45
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    When prices change consumers look for places to get cheaper stuff and producers find ways to reduce the prices of their goods to reasonable amount so that more consumers can buy from them
  2. 10 March, 12:54
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    Cross-price elasticity of demand are important indicators of consumer behavior in response to changes in prices
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