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Thank you!! rview Elasticities are one measure firms need to understand to effectively price their product and make price changes. Explain what an elasticity is

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rview Elasticities are one measure firms need to understand to effectively price their product and make price changes. Explain what an elasticity is and what it measures. . What might be an example of a more elastic good? O . What might be an example of a more inelastic good? Explain why. . What importance do you feel it is for firms to understand the elasticity of their products they are selling? Instructions

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