Elasticity

Analyze the determinants of the price elasticity of demand and determine if each of the following products are elastic or inelastic:

  • Bottled water
  • Toothpaste
  • Cookie dough ice cream
  • Fresh green beans
  • Gasoline

In your analysis, please make sure to explain your reasoning and relate your answers to the characteristics of the determinants of the price elasticity of demand.

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