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1) What's the mathematical distinction between inelastic and elastic? 2) What economic factors determine the size of the price elasticity measure? 3) Is there anything

1) What's the mathematical distinction between inelastic and elastic?

2) What economic factors determine the size of the price elasticity measure?

3) Is there anything a company can do to change the price elasticity of its product?

(Please write unique answer for these questions.

Thanks

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