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1. Do you think cars are an elastic or inelastic good? Use 2 of the determinants of elasticity that we learned about to justify your

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1. Do you think cars are 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. 2. 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

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