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    Elastic and inelastic demand for price of goods or services

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    Give an example of times you experienced with goods or services you purchased:

    1) An item whose price changed significantly but the amount you purchased changed little.
    2) An item whose price changed by a smaller amount and the amount you purchased changed a lot.

    As part of your answer you should demonstrate an understanding of elastic and inelastic demand.

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    https://brainmass.com/business/finance/elastic-inelastic-demand-price-goods-services-420663

    Solution Preview

    Elasticity

    Give an example of times you experienced with goods or services you purchased: 1) An item whose price changed significantly but the amount you purchased changed little. 2) An item whose price changed by a smaller amount and the amount you purchased changed a lot. As part of your answer you should ...

    Solution Summary

    The expert examines elastics and inelastic demand for price of goods and services.

    $2.19

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