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Listen to (or read the transcript of) this podcast (https://www.stlouisfed.org/education/economic-lowdown-podcast-series/episode-16-elasticity-of-demand) from the Federal Reserve Bank of St. Louis. describe your experience with price elasticity as a consumer. Provide an example of an inelastic good and an elastic one for your household. What makes those goods elastic or inelastic? How might other households respond differently?

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