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26 February, 10:15

Demand for automobiles tends to be price - elastic because automoblies

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  1. 26 February, 13:30
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    Price elasticity is measuring demand wen the change in quantity demanded relates to the products change in price. Automobiles are considered price elastic because when the price of automobiles changes, the quantity can change a lot. If prices go down, the amount of automobiles purchased rises and vis versa if the price of automobiles goes up.
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