Examine the chart below, which compares the prices of three different items to the quantities supplied at each price: Name and define the economic concept being illustrated. Then analyze the chart’s information, and state which item is a) elastic; b) inelastic, or; c) unit elastic, and tell why.

the chart is very importante

Explanation:

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basic principles: federalism, separation of powers, checks and balances, judicial review, representative democracy, limited government, rule of law, individual rights and responsibilities, consent of the governed, majority rule, popular sovereignty, equal protection.