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If the Demand for a Good Is Inelastic, Then the Good

question 119

True/False

If the demand for a good is inelastic, then the good must be a necessity.


Definitions:

AMD

Advanced Micro Devices, Inc., an American multinational semiconductor company that develops computer processors and related technologies.

Intel

A multinational corporation and technology company known primarily for its semiconductor chips used in computer systems.

Time-Discounted Profits

The present value of future profits, taking into account the time value of money and the preference for receiving profits earlier rather than later.

Chip Production

The process of manufacturing integrated circuits (ICs) on semiconductor material like silicon.

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