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Give an ex of times you experienced with goods or services you purchased:

1) An item whose price changed significantly but the amount you purchased changed little.
2) An item whose price changed by a smaller amount and the amount you purchased changed a lot.

As part of your answer you should demonstrate an understanding of elastic and inelastic demand.

 

Basic Finance, Finance

  • Category:- Basic Finance
  • Reference No.:- M928526

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