What does it mean if a good has inelastic demand

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Reference no: EM132322556

Question: Please answer the following questions in detail.

1. Explain the price elasticity of demand? Why is this important when looking at the demand for health care?

2. What does it mean if a good has inelastic demand? Provide an example of an inelastic good?

The response must be typed, single spaced, must be in times new roman font (size 12) and must follow the APA format.

Reference no: EM132322556

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