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nasmorn
143 days ago
This is what the supply curve describes. For each individual producer there is a hard cutoff but in aggregate these are a curve
1 comments
nosianu
142 days ago
No, the standard price elasticity of demand curve does not directly include profits. It primarily models the relationship between price and quantity demanded.
Supply curve??? The OP wrote "This is confirming demand is more inelastic"
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Supply curve??? The OP wrote "This is confirming demand is more inelastic"