What is the difference between elastic and inelastic demand? Give 5 points?

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asked Dec 2, 2022 37.2k views

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Maresa · Answer 1 · 2022-12-06T11:32:15+0000

Step-by-step explanation:

Elastic demand means there is a substantial change in quantity demanded when another economic factor changes )

inelastic demand means that there is only a slight (or no change) in quantity demanded of the good or service when another economic factor is changed.

What is the difference between elastic and inelastic demand? Give 5 points?

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