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October 2, 2019

Elasticity

APA, Economics, University

36329Principles of MicroEconomics/ A Streamline Approach… 3rd edition

The product of choice is Bluebell Icecream Homemade Vanilla

Submit a 300- to 700-word paper that addresses the following:

Identify a product that you regularly consume, such as soft drinks or a particular snack food. Describe how your demand (consumption) will be impacted by a 25% price increase. Conversely, how will your demand (consumption) change if the price drops by 25%? Is your demand for this product elastic or inelastic? Explain why.

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