give example of more elastic and less elastic demand with picture
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Examples of Elastic and Inelastic Demand ... In general, the greater the necessity of the product, the less elastic, or more ... Such housing might cost half of one's budget
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Types of elasticity. There are four types of elasticity, each one measuring the relationship between two significant economic variables. They are: Price elasticity of demand (PED), which measures the responsiveness of the quantity demanded to a change in price.
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