Explain why the following situations would occur in terms of the factors that affect
(a) Demand for cellular service is inelastic in the short run, but more elastic in the long run.
(b) Demand for a bakery's bread is elastic, while demand for bread is inelastic.
(c) Demand for personal computers is elastic.
Demand for cellular service is inelastic in short run but more elastic in long run because elasticity occurs because of the... View the full answer