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Demand for Gasoline is well-known to be inelastic. a) Provide/discuss at least two reasons that makes the demand for the product, gasoline, inelastic. b) Then,

Demand for Gasoline is well-known to be inelastic.

a) Provide/discuss at least two reasons that makes the demand for the product, gasoline, inelastic.

b) Then, provide an example of a product with inelastic demand besides gasoline, and explain what makes the demand for the product you list inelastic. Explain the reasoning behind your answers in detail for full credits

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