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10 cards from this deck
Measures sensitivity of quantity to price changes
Ratio of % change in quantity to % change in price
Ed=0E_d = 0Ed=0
Ed<1E_d < 1Ed<1
Ed=1E_d = 1Ed=1
Ed>1E_d > 1Ed>1
Es=0E_s = 0Es=0
Concert tickets (fixed venue capacity)
Steep downward slope
Inelastic demand means people buy despite higher prices
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