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QUESTION
Give three reasons why the demand for some goods are elastic and others are inelastic. In your response, define elasticity and inelasticity....
A. Give three reasons why the demand for some goods are elastic and others are inelastic. In your response, define elasticity and inelasticity. (____/5) B. EXPLAIN how the total revenue test can be used to determine if a demand curve is elastic or inelastic. ( ____/5)
