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Are diapers considered an elastic, inelastic, or unitary elastic demand? What effect does the current supply and current demand have on a product? Describe how
Are diapers considered an elastic, inelastic, or unitary elastic demand?
What effect does the current supply and current demand have on a product?
Describe how each of the 4 factors, the availability of substitutes, the specific nature of the good, the percent of the income spent on the good, and the time consumers have to buy the good, contributed to the elasticity of the good.
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