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Define the concept of price elasticity of demand, price elasticity of supply & income elasticity ? What are some of the determinants regarding elasticity ?

Define the concept of price elasticity of demand, price elasticity of supply & income elasticity ? What are some of the determinants regarding elasticity ? What is meant by cross-price elasticity of demand ? Describe elasticity effects as it relates to services such as health care, higher education, food / produce and transportation ?

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