ECO 294 -Week Two – One Think about an item

ECO 294 -Week Two –  One

Think about an item that you consume/demand each day (week). Is there an item that you’d continue to buy if, let’s say, the price doubled  . . . over night! Is there any item you would stop buying if the price went up only a small amount?

If prices go way up, but consumers need it (they’re price inelastic) what types of things can happen in the market that could help consumers?

Try to write 800 words and use APA formatting with two sources.

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