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Walk through the logic of determining what kind of good has the most elastic demand in this video.
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AP(R) Microeconomics on Khan Academy: Microeconomics is the study of individual decisionmakers in an economy, such as people, households,
Given the first derivative of an implicit equation in x and y, evaluate the second derivative at a certain point. Problem taken from the 2015 AP Calculus AB exam.
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Economies of scale exist when long-run average total cost decreases as output increases, diseconomies of scale occur when long-run average total cost increases as output increases and constant returns to scale occur when costs do not change as output increases.
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