Elasticity Discussion

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Economics

Elasticity Discussion

Description

Two parts:

Part 1: Tell us about a good or service for which you have VERY Inelastic demand (you would buy almost the same amount even if the price doubled). Be honest, but creative.

Part 2: Tell us about a good or service for which you have Elastic demand (you would buy a lot less of it if the price increased even a little).

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