Macro & Micro economics

Discussion Question 1: Can you think of a product that is a large part of your budget where the price elasticity of demand is very low? Why is it so low? o Discussion Question 2: In estimating demand functions, what is the most important thing to remember? Why?
One source must be from
Thomas, C.R., and Maurice, S.C. (2013), Managerial Economics –Foundations of Business Analysis and Strategy, (11th ed.), New York, McGraw-Hill, Irwin ISBN: 978-0078021718.
Remaining sources are to be within 5 years current.

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