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Musya8 [376]
4 years ago
11

During this Pandemic, find a product/service that reflects inelastic demand.

Social Studies
1 answer:
dezoksy [38]4 years ago
8 0

Answer:

Explanation:

Examples of inelastic demand

Petrol – those with cars will need to buy petrol to get to work.

Cigarettes – People who smoke become addicted so willing to pay a higher price.

Salt – no close substitutes.

Chocolate – no close substitutes.

Goods where firms have monopoly power.

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