wns1030 wns1030
  • 17-07-2017
  • History
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if a product is inelastic how will consumers respond to a price increase

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jackd655 jackd655
  • 17-07-2017
Consumer demand for the product will stay the same because people need to have it no matter the cost. They will buy it no matter how much the price increases. This applies to things like medicine.
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