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behavior of buyers
Other elasticities are used to describe the ________ in a market.
US government
The ________ has spent billions of dollars each year to discourage the use of illegal drugs.
Demand
________ is considered elastic when the elasticity is greater than 1.
Elasticity
________- a measure of the responsiveness of quantity demanded or quantity supplied to a change in one of its determinants.
supply of oil
When the ________ falls, the response depends on the time horizon.
Drug interdiction
________ could increase drug- related crime.
Total revenue
________- the amount paid by buyers and received by sellers of a good, computed as the price elasticity of demand rise of the good times the quantity sold.
Oil
________ was the cause of the most disruptive events in the worlds economy.
US government
The ________ has spent billions of dollars each year to discourage the use of illegal drugs.
Note 
Flashcard (20)