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Inelastic goods, such as gas or energy based products will always be in demand. This is owing to the fact that everyone utilizes the generally inexpensive goods. Elastic goods, on the other hand, are considered a luxury item/s, such as a Corvette or designer clothing.
elastic
The midpoint between elastic and inelastic is unit elastic
is soap elastic or inelastic supply
Inelastic
In elastic collisions, both momentum and kinetic energy are conserved. This means that momentum before and after the collision is the same, and the objects bounce off each other without any loss of kinetic energy. In inelastic collisions, momentum is conserved but kinetic energy is not. Some kinetic energy is converted into other forms of energy, such as heat or sound, during the collision.
Elastic goods usually have many substitutes, so changes in price will decrease demand. Inelastic goods, on the other hand, have very few substitutes, so demand isn't generally affected by price change.
Elastic goods usually have many substitutes, so changes in price will decrease demand. Inelastic goods, on the other hand, have very few substitutes, so demand isn't generally affected by price change.
elastic
Inelastic goods, such as gas or energy based products will always be in demand. This is owing to the fact that everyone utilizes the generally inexpensive goods. Elastic goods, on the other hand, are considered a luxury item/s, such as a Corvette or designer clothing.
The midpoint between elastic and inelastic is unit elastic
is soap elastic or inelastic supply
elastic
Inelastic
just check momentum before and after and if they're the same then elastic if not then inelastic.
difference between elastic and inelastic demand
elastic