Consider the market for your good or service for an inflatable business. Indicate if the demand for
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Question:
Consider the market for your good or service for an inflatable business.
- Indicate if the demand for your good or service is elastic or inelastic.
- Describe the specific characteristic(s) of your good or service that leads to its elasticity or inelasticity.
- Explain how the (in)elasticity of demand influences your ability raise total revenue.
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