What is elasticity of demand and how it is used in economics


Problem: What is elasticity of demand and how is the notion used in economics? Please explain and elaborate.

Papers should include a title page,  writing, and a reference list.  Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.

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Microeconomics: What is elasticity of demand and how it is used in economics
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