| 1. | The demand function is linear and price elasticity of demand is 1.
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| 2. | Any determinant of price elasticity of demand can be used to segment markets.
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| 3. | However, MPC and income elasticity of demand tend to increase as wealth increases.
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| 4. | The size of the increase in quantity consumed depends on the elasticity of demand.
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| 5. | OK, now I have to rush to another Economics lecture about Elasticity of Demand.
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| 6. | The SSNIP test can be applied by estimating empirically the critical elasticity of demand.
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| 7. | One measure of it is the wealth elasticity of demand.
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| 8. | It would depend on the elasticity of demand for forward contracts and such like.
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| 9. | First, the relevant product market must be identified by considering interchangeability and cross-elasticity of demand.
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| 10. | Indeed, the price elasticity of demand varies between types of purchase and among consumer segments.
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