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Griffin Parriott
on Oct 26, 2024

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In general,we predict demand for Gala apples to be:

A) price-elastic.
B) price-inelastic.
C) perfectly price-elastic.
D) perfectly price-inelastic.

Gala Apples

A variety of apple that is known for its sweet flavor and crisp texture, often used in cooking and baking.

Price-Elastic

Describes a situation in which the demand or supply for a good or service responds significantly to a change in price.

Price-Inelastic

Describing a situation where the demand for a good is insensitively responsive to changes in its price, usually due to the lack of close substitutes.

  • Learn to interpret the notion of demand's sensitivity to price alterations.
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AZ
Abdirahman ZakicOct 30, 2024
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