true or flase question, would like to check my answers thanks! 1. Models are simplificatins that are used to observe the working of a system. 2. Government price suports on milk would increase the supply of affordable milk for U.S families. 3 elasticity of demand equals the ratio of the percentage change in the price of good to the percentage change in the quanity demanded.

true or flase question, would like to check my answers thanks! 1. Models are simplificatins that are used to observe the working of a system. 2. Government price suports on milk would increase the supply of affordable milk for U.S families. 3 elasticity of demand equals the ratio of the percentage change in the price of good to the percentage change in the quanity demanded.

Essentials of Economics (MindTap Course List)

8th Edition

ISBN:9781337091992

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter5: Elastic And Its Application

Section: Chapter Questions

Problem 8PA: The New York Times reported (Feb. 17, 1996) that subway ridership declined after a fare increase:...

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