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Looking at the purchase or order demand

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Reference no: EM132269299

Looking at the purchase or order demand of following:

Buying Nike running shoes;

Purchasing gasoline to go to work and drive for fun

Ordering X-ray films for check-up

ordering a biopsy with suspicion of having cancer

  • Which one would have the lowest and which one would have the highest price elasticity of demand?
  • Which one would have the lowest and which one would have the highest income elasticity of demand?
  • Which product demand hay have the unit income elasticity of demand?

Reference no: EM132269299

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