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Ground meat will be supplied more in the future because of a price increase

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for many people haircuts are elastic because there are many different people to get haircuts from

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toothpaste is elastic because there are many options people can choose from

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Supply and demand helps me understand my economic surroundings because it shows why some products are bought more than others. It also helps me understand why people are more likely to buy certain items over others given the circumstances.

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I bought a laffy taffy because it was on sale at the grocery store.

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Red Robin Burger I bought because I got birthday money

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I bought store brand heavy cream instead of Horizon because it was cheaper. This relates because I chose it over the other option because it was cheaper

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Popeyes chicken sandwich is something I experienced diminishing marginal utility with. I used to eat them all the time but they are not as good to me anymore.

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To most people prescription drugs are inelastic. People often need them to survive.

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To most people who use public transportation it is an inelastic service. They need it to get to where they work