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Price elasticity of demand?

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Price elasticity of demand?

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  1. Demand..


  2. elasticity is how consumers react to change in prices.. If They responsive to price changes then it is elastic.. If they don't respond to price changes then it is inelastic.If Mcdonalds changes the price of a hamburger than people will most likely respond and there will be changes in the quantity purchased. Essential things like toothpaste or Electricity people don't respond as much so its inelastic.

  3. elaborate dude
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