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OpenStudy (anonymous):
what product has a demand that is elastic?
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OpenStudy (anonymous):
Most normal goods. To keep it simple think of bubble gum.. If the price of your favorite brand goes from $4 to $100 your quantity demanded will drop sharply all else equal... It is very sensitive to changes in price. Inelastic goods such as insulin are not as sensitive to price changes because the end user must have it.
OpenStudy (anonymous):
because its value is changeable due to the factor of price or other then price
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