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Question 45:Why is it that a profit-maximizing people would always raise prices when facing an inelastic demand curve, but might or might not raise prices

Question 45:Why is it that a profit-maximizing people would always raise prices when facing an inelastic demand curve, but might or might not raise prices when facing an elastic demand curve?Explain and justify your answers in detail by covering the inelastic and elastic demand curves.Make sure you define the meaning of the elastic and inelastic demands.

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