Question
Suppose that supply increases in the market for minor oral surgeries, where the surgery can be done in the dentist's office and price elasticity of
Suppose that supply increases in the market for minor oral surgeries, where the surgery can be done in the dentist's office and price elasticity of demand is 4.5. Then suppose that supply increases in the market for major reconstructive oral surgeries that have to be performed by the dentist in a hospital or surgicenter with emergency life-saving equipment on hand, and the price elasticity of demand is 0.60. In which of these markets will the quantity demanded change the fastest toward a new equilibrium? In other words, in which market is demand most flexible? (one sentence)
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