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5 Elasticity (a) Explain what the own-price elasticity of demand is, using words. (You may supplement your explanation with a formula if you wish, but

5 Elasticity (a) Explain what the \"own-price elasticity of demand\" is, using words. (You may supplement your explanation with a formula if you wish, but this is not required.) (b) Give an example of a good that you expect will have INELASTIC demand

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