Identify two elastic and two inelastic goods


Assignment:

"Elasticity" - 2 Paragraphs

Please respond to one of the following:

• Identify two elastic and two inelastic goods that you have purchased in the last month and explain the main reason why you identified them as such.

• Consider the sets of goods below. Which goods would you expect have relatively more elastic demand?Why?:

o Sirloin steak or a dozen eggs

o All brands of gasoline combined or just Chevron gas

o iPhone or Android

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Microeconomics: Identify two elastic and two inelastic goods
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