(Answered) 1 explain the elasticity of demand why is this important

Management Studies

1. Explain the elasticity of demand? Why is this important when looking at the demand for healthcare?

2. What does it mean if a good has inelastic demand? Provide an example of an inelastic good?

3. What factors lead to a shift in the demand curve for healthcare?

4. What do we mean when we say goods are substitutes? Provide an example related to health care.

5. What do we mean when we say goods are complements? Provide an example related to health care.

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Business Management, Management Studies

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