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15 April, 15:04

Describe a product you know of that has elastic demand. Why is the demand for this product elastic? Explain.

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  1. 15 April, 15:30
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    A good or service is said to be highly elastic if there is a a slight change in price this will cause a sharp change in the quantity. Usually these kinds of products are readily available in the market - example is jewelry. lottery ticket
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