Define the concept of elasticity.? Explain how a higher price and a lower price affect consumers and producers.?? Share how the changes of price for an elastic good and an inelasti
Respond to the following in a minimum of 175 words:
- Define the concept of elasticity.
- Explain how a higher price and a lower price affect consumers and producers.
- Share how the changes of price for an elastic good and an inelastic good you use regularly has affected your purchasing and lifestyle.
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