Price flexibility/Definition: Difference between revisions

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A situation in which prices act instantaneously to bring supply into equality with demand (see [[supply and demand]]).
The property of a market in which prices act rapidly to bring supply into equality with demand (see [[supply and demand]]).

Latest revision as of 12:35, 19 January 2010

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Price flexibility [r]: The property of a market in which prices act rapidly to bring supply into equality with demand (see supply and demand).