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d for a good that is a necessity is likely to be inelastic because consumers: q , to have the it regardless of the price.

d for a good that is a necessity is likely to be inelastic because consumers: q, to have the it regardless of the price. Demand for a good that is a luxury is likely to be because mers can take their time to find t need to have the good. for the product when the price increases, as they
want ?4
need ?+ have more time to adjust to a change ?+
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