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Misha Larkins [42]
3 years ago
12

5. Describe a product you know of that has elastic demand. Why is the demand for this

Business
1 answer:
nalin [4]3 years ago
4 0

A good or service is said to be highly elastic if there is a a slight change in price this will cause a  sharp change in the quantity. Usually these kinds of products are readily available in the market - example is jewelry. lottery ticket.

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Hope this helps
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