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This research paper: The writer answers two questions set by the student, the first looks at how elasticity is calculated and how it can be used to assess the impact that a price change will have ion the demand for a product, The second questions explains the way price is determined by supply and demand and how changes to other of these will impact on price. The answers uses supply and demand graphs to enrich the answer. Six sources are cited in the bibliography of this five page paper.
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