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You refer to price elasticity of demand and refer to goods whose demands are relatively elastic. Can you provide a specific example of an elastic
You refer to "price elasticity of demand" and refer to goods whose demands are "relatively elastic." Can you provide a specific example of an "elastic" demand related to a higher minimum wage? Please explain.
You also refer to "price ceiling." Does the government impose price ceilings after an (imposed) increase in the minimum wage? For example, does the government impose limits on hamburger prices after imposing a higher minimum wage? Please explain.
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