Elasticity of substitution/Definition: Difference between revisions

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imported>Nick Gardner
(New page: The percentage change in the ratio of the amounts of two products that is demanded that is caused by a unit percentage change in the ratio of their unit prices.)
 
imported>John Dvorak

Revision as of 16:43, 22 May 2008

The percentage change in the ratio of the amounts of two products that is demanded that is caused by a unit percentage change in the ratio of their unit prices.