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Answer to Question #71289 in Microeconomics for Christina
Question #71289
Without actually calculating the elasticity of demand, as an estimation, is the demand for McCain french fries elastic or inelastic? Why, using theoretical reasoning.
Expert's answer
Yes without actually calculating the elasticity of demand we can tell that MCCain french fries are Elastic because it has many substitutes and quantity demanded is more responsive to price change because consumer has more alternative (substitute) for McCain french fries
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