We've seen that we can classify own price elasticity of demand into two major categories, elastic and inelastic.

   What are some products whose demand is relatively stable (though not necessarily inflexible) when the price changes? For which products is demand likely to be very sensitive to price changes?

   In both cases, don't worry about exotic or unusual products, such as prescription medications or private jets (though we can certainly consider the elasticity of these), but rather about products that most people use regularly.

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