Amount Determinants of Elasticity: Determinants of Elasucity Substitutability Short-run or Long-run Luxury or Necessity Temporary or Permanent price change Proportion of Income Different Consumer Groups Broadness of the Definition Brand Loyalty Question 1: Elasticity and Price (8 points) $85.00 $80.00 $75.00 $70.00 $65.00 $60.00 $55.00 Price $50.00 $45.00 $40.00 $35.00 $30.00 $25.00 $20.00 $15.00 100 200 300 400 500 600 700 800 900 Quantity Demanded Question 1, Part A: Is the demand for this product Elastic or Inelastic between points "a" and "b"? Please explain your answer. Type your answer and explanation here