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(P6) What is price elasticity, explain how changing the selling price impacts demand. Give an example of an elastic product and an inelastic product, related

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(P6) What is price elasticity, explain how changing the selling price impacts demand. Give an example of an elastic product and an inelastic product, related to Tesco. (P6) Explain what luxury and inferior goods are in relation to Tesco and explain how the demand changes with changing incomes. Conclusion

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