For each of the following pairs of products,discuss which of the two would be expected to be more price elastic and explain why.
Definitions:
Bulk Order
A large quantity of goods ordered at once, often to benefit from cost savings.
Good-Quality Shirts
Apparel that is made from high-grade materials and demonstrates superior craftsmanship and durability.
Relaxation Response
A physiological state of deep rest that changes the physical and emotional responses to stress, often invoked through practices like meditation.
Performance Appraisal
The systematic evaluation of an employee's job performance and productivity, often used as a basis for career development and compensation decisions.
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