I have a general question about economics how do you tell your shopping list demand was ela?
I have a general question about economics how do you tell if your shopping list items demand was elastic or inelastic?
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- Ask yourself how much more of your items you would be willing to buy if the price decreased by 1%. If the answer is more than 1%, your demand is elastic; if the answer is less than 1%, your demand is inelastic.
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