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what is the price of elasticity demand ;how is it measured .if the price is -3 and $200 as marginal cost of product X,what should the optimal sale price be, using the mark up rule
Demand & Supply - Elasticity
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Price elasticity of demand is the relationship between a change in price and the corresponding change in quantity. It tells you how sensitive the quantity demanded is to a change in price. Businesses look at this very closely because it helps them in their pricing decisions. And in evaluating...
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Suppose the price elasticity of demand for text book is 2 and the price elasticity of the text book is increased by 10%. By how much does the quantity demand fall? Enter the result and discuss reasons for the fall in quantity demand?
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Hello every one, Do let me know elasticity of demand and elasticity of supply means the same as price elasticity of demand and price elasticity of supply? If yes then its mean we use the same formula of price elasticity of demand and supply or they are different? Waiting... :confused: View more questions Search
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