Economics Discussion 3 | Quick Solutions

Topic:

Do you think coffee is an elastic or inelastic good?  Use 2 of the determinants of elasticity that we learned about to justify your answer.  Do not use the time horizon, as it does not apply.

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Why is elasticity important? Why do we care if a good is elastic or inelastic?  How can this knowledge be applied in the real world?

Reply to another student.

Directions:

You should write approximately 6 sentences and about 250 words. Please check your work for spelling and grammar errors to avoid a loss of points.

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