Inelastic Demand
Microsoft has an elastic demand in its Microsoft Office suite products for computers, which are widely used in almost every part of the world and is almost virtually impossible to complete a vast amount task. The Microsoft processor for computers are used in various institutions and is essential to life and business. Inelastic demand means that an increase or decrease in the price of a product will not significantly affect demand for the product. Since the product is highly needed if the price goes up or down it will still be in demand. The Microsoft product is used in every school, every business, and almost every home.This is an example inelastic demand.
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