Define the concept of elasticity.
Explain how a higher price and a lower price affect consumers and producers.
Share how the changes of price for an elastic good and an inelastic good you use regularly has affected your purchasing and lifestyle.
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Define the concept of elasticity.
Explain how a higher price and a lower price affect consumers and producers.
Share how the changes of price for an elastic good and an inelastic good you use regularly has affected your purchasing and lifestyle.