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In terms of demand, I used this idea when I bought my switch. At this point, since the demand had decreased after about a year and a half it was cheaper, and so I found it more worth to spend my money on. There was also more games out so there was more use to me buying it later over earlier.

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As a result of me having more money because of a job, I was more willing to spend my money on something that I didn't necessarily need.

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This is just the idea that the people who have to work at the company are the ones who are helping to create the product and are thus part of the production cost.

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As of recent there has been a health craze so more businesses are producing it and soon the prices will go up for the "healthy drink.

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As a substitute for going to a gym, I have weights at home so that over time it is less expensive.

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For diminishing marginal utility I chose Oreo's because while it's good, one Oreo get more full and I end up enjoying less or at least feeling worse about the situation.

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When making crayons, they use the unused product in order to make more so that they reduce waste but still are making more money.

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An inelastic demand would include cell phones because the whole life they are on sale, they will continue to be the same price like with the iPhone.

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I would n64 games except they don't produce them any more so there is only what exists currently.

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An example of something that has increased in inelastic demand would be video games because over time, I have been willing to buy as many games, even though they are getting more expensive.

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A service that is inelastic would be like with surgery as just because there are more surgeries, does not mean that they will cost more.

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There are many different types of shoes that are overly expensive, but for certain types, people are going to buy different shoes because they can have the same functionality of the price.

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A service with elastic demand would be physical trainers because if the price gets to be too expensive, people will just stop and use things like blogs or videos.

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The use of rototillers has allowed farmers to turn the soil better so easier production of crops

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An example of an elastic supply would be something as basic as a farmers market as if people want whatever they are selling, they are more likely to bring more to the next and supply them.