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Hi I have the following questions: 1.Is price elasticity of demand for sugar inelastic or elastic? 2.Is price elasticity of supply for sugar inelastic or

Hi I have the following questions:

1.Is price elasticity of demand for sugar inelastic or elastic?

2.Is price elasticity of supply for sugar inelastic or elastic?

Kindly briefly explain why for both qns above.

Thanks

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