why is demand for salt inelastic ????
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demand for salt is inelastic because salt is essential for life
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For example, if the price of salt increases, people will not buy less of it. They need their daily salt intake. The demand of salt is therefore price-inelastic. ... If a 2% increase in price causes people to buy 1% fewer of a product, it has a price elasticity of demand of -0.5.
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