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Explain the difference between elastic, inelastic and fixed supply.
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Explain the difference between elastic, inelastic and
fixed supply.

User Ccozad
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Answer:

n elastic demand or elastic supply is one in which the elasticity is greater than one, indicating a high responsiveness to changes in price. An inelastic demand or inelastic supply is one in which elasticity is less than one, indicating low responsiveness to price changes

Step-by-step explanation:

User KushalP
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