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Pick a product or servicethat you consume on a regular basis and speculate on what the elasticity of demand might be for that product.What might

Pick a product or servicethat you consume on a regular basis and speculate on what the elasticity of demand might be for that product.What might be the income elasticity of demand for that product?Explain and support why you think the product has the elasticity that it does based on how price sensitive you think people are when itcomes to this product or service.

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