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Main reason for identifying

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Reference no: EM131355138

"Elasticity" Please respond to one of the following:

  • Identify two (2) products whose demand is elastic and two (2) products whose demand is inelastic. What is your main reason for identifying them as having elastic or inelastic demand? 
  • Consider the 'pairs' of goods below. Which good in each pair is likely to have relatively more elastic demand? Why?: 
    • Sirloin steak or a dozen eggs Gasoline or Chevron gas specifically.  
    • iPhones or Androids

Reference no: EM131355138

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