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marysya [2.9K]
4 years ago
10

What is the difference between elastic and inelastic demand?

Business
1 answer:
padilas [110]4 years ago
6 0

Answer:

Elastic Demand is when a slight change in a price of a good causes a greater change in the quantities demanded. Inelastic Demand is when a change in price of a good does not have a big effect on the amount of quantities demanded.

Explanation:

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