Question: Identify 3 items in your life that are elastic Identify 3 items in your life that are inelastic Explain why, using the determinants of elasticityfor

Identify 3 items in your life that are elastic

Identify 3 items in your life that are inelastic

Explain why, using the determinants of elasticityfor each

The determinants are:

1. The availability of substitutes

2. The proportion of income spent on the product

3. Necessities versus luxuries

4. The time period being considered

Must be at least 200 words

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