Why is understanding elasticity of demand important, Microeconomics

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Why is understanding elasticity of demand important

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Find a recent (within the last 6 months) article or economic blog on price elasticity of demand, and briefly summarize the information. Why is understanding elasticity of demand important to microeconomics?

The response must include a reference list. Using Times New Roman 12 pnt font, double-space, one-inch margins, and APA style of writing and citations.

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