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Price elasticity of demand relatively elastic or inelastic

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Reference no: EM13892948

Select a good or service (input) used by your firm or by you when performing your job.

a. Select two factors (for example revenue, technology, or the relative price of a substitute input) and discuss how a change in each would alter the use of the input.

b. For this input is your firm's price elasticity of demand relatively elastic or inelastic?

c. What will the MARKET demand for this input be in five years and briefly why?

Reference no: EM13892948

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