Demand and Supply and Elasticity – Essaylink

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“Demand and Supply and Elasticity” Please respond to the following:

Discuss one (1) recent price change that you have noticed while visiting your local supermarket. Determine whether or not the price change that you identified was a result of a change in either supply or demand.
Identify two (2) elastic and two (2) inelastic goods that you have purchased in the last month and explain the main reason why you identified them as such.

 

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