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Why are anti-diabetes drugs likely to have inelastic demand

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Reference no: EM132914433

Discussion 1. Analysis of Necessities: Why are anti-diabetes drugs likely to have inelastic demand? Define elasticity and provide graphical support to your explanation. Why elasticity is so important to forecast market trends?

Discussion 2. Explain the different market structures using graphs and verbal explanations. Provide an example of each market. Why monopolies arise and what governments can do in face of monopolies?

Reference no: EM132914433

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