Construct Graphs of Demand Curves that exhibit: A) Inelastic Demand; and B) Elastic Demand: Explain what is meant by each type of Demand Curve Profile relationship in terms of price and quantity. What are characteristics of goods (and give example of goods) that exhibit (A) Inelastic Demand and (B) Elastic Demand. Which type of demand curve profile will have the greatest effect on other goods due to its price changing? Explain how the effect (mechanism) takes place in 50 to 75 words.

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