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Highest price elasticity of demand

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Reference no: EM132267203

Looking at the purchase or order demand of following:

Buying Nike running shoes;

Purchasing gasoline to go to work and drive for fun

Ordering X-ray films for check-up

ordering a biopsy with suspicion of having cancer

1. Which one would have the lowest and which one would have the highest price elasticity of demand?

2. Which one would have the lowest and which one would have the highest income elasticity of demand?

3. Which product demand hay have the unit income elasticity of demand?

Reference no: EM132267203

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