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Economics Lecture Three (view source)

Revision as of 14:17, August 11, 2009

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Read and, if necessary, reread the above lecture.  Complete the homework assignments through the level in which you choose to enrol in this course:
 
Read and, if necessary, reread the above lecture.  Complete the homework assignments through the level in which you choose to enrol in this course:
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===Introductory===
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<need to update these questions>
    
1. In a free market, the responsiveness of demand to a change in price is known as its ____________.
 
1. In a free market, the responsiveness of demand to a change in price is known as its ____________.
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3. Give examples of a complement and a substitute for breakfast eggs.   
 
3. Give examples of a complement and a substitute for breakfast eggs.   
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===Intermediary===
      
4. Describe a perfectly elastic demand curve, and a perfectly inelastic one.
 
4. Describe a perfectly elastic demand curve, and a perfectly inelastic one.
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