Question 3A During the Covid-19 pandemic, the Ayurvedic medicines have an inelastic demand and electronic devices have an elastic demand.

3A. During the Covid-19 pandemic, the Ayurvedic medicines have an inelastic demand and

electronic devices have an elastic demand. Imagine that technological advancement

doubles the supply of both products (i.e. quantity supplied at each price is twice as it was

earlier)

Answer: 

Question 3 a Do you agree with this statement, MC curve crosses the ATC curve at its minimum?

Why?

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