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Sally sells seashells by the sea shore. (This is not the best business plan in the world as anyone can pick up sea shells, but
Sally sells seashells by the sea shore. (This is not the best business plan in the world as anyone can pick up sea shells, but it's also easy to get the product.) Describe the elasticity of supply and demand for her product.
a- Both demand and supply are elastic.
b- Both demand and supply are inelastic.
c- Demand is elastic, supply is inelastic.
d- Demand is inelastic, supply is elastic.
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