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What Is the Key Factor in Determining How Elastic or Inelastic

question 11

Essay

What is the key factor in determining how elastic or inelastic a demand curve will be? Explain.


Definitions:

Affect Intensity

The strength or degree of emotion a person typically experiences and expresses.

Depression

A chronic mental condition where an individual experiences a lasting state of depression or a diminished interest in previously enjoyed activities, greatly affecting their day-to-day life.

Emotionally Intelligent

The ability to recognize, understand, and manage one's own emotions and the emotions of others.

Judgment Goal

An objective or ambition guided by the evaluation or judgment of others, often related to performance or competence in various areas.

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