Question
If demand is more elastic than supply, who will get the
larger share of benefits?Solution
Consumers - If demand is more elastic than supply, consumers tend to reap larger benefits, such as paying lower prices, from transactions because they have more substitutes available and can respond more to price changes.
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Simran scored 25% marks in a test and failed by 50 marks, whereas Neil scored 40% marks in the same test and failed by 20 marks. Find the passing marks ...
