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With reference to: (1)(why indifference curves are traditionally convex to origin) and (2)(deriving a price inelastic demand curve for good x) (3) discuss the links
With reference to:
(1)(why indifference curves are traditionally convex to origin) and
(2)(deriving a price inelastic demand curve for good x)
(3) discuss the links between the indifference curve, price elasticity estimates and the theory of supply and demand in economics.
I've already expressed (1-2) with graphs and a explanation...what should I discuss in (3) what should be my main points about the relationship between these topics? And how they link?
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