In economics if a good is inelastic?
Saturday, September 25, 2021
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Question: In economics if a good is inelastic?
The word inelastic about the economic mean. when the price goes up in the market then the consumer buying habits stay about the same and, when the price goes down consumer buying habits also remain unchanged example if 2% change in the price of the the services and goods then approximately 2% change in the quality demanded or supplied but in ideal condition no perfectly in elastic goods.
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