Cryptocurrency Q&A What does it mean if a good is inelastic?

What does it mean if a good is inelastic?

CherryBlossomBloom Thu Jan 16 2025 | 7 answers 2234

I want to understand the economic concept of inelastic goods. What characteristics define an inelastic good and how does it behave in the market when changes in price occur? What does it mean if a good is inelastic?

What does it mean if a good is inelastic?

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What does it mean if a good is inelastic?

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