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What does it mean if a good has inelastic demand provide an example of an inelastic good?
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What does it mean if a good has inelastic demand provide an example of an inelastic good?

User Jamie Hill
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Products and services have inelastic demand when the change in quantity demanded is small when there is a change in price. This is also known as "price inelasticity of demand." Gasoline is an inelastic demand example, because the amount people buy remains roughly the same, even when prices increase.
User Brubs
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