·
The discussion board this week deals with price elasticity.
Pay special attention to Chapter 18 page 621-623. Give a brief discussion
of what price elasticity is. Name one product for which your demand is
elastic and one product for which your demand is inelastic. For example,
if a compnay raised the price of a product you buy by 10%, would you
reduce your purchases? Would you buy the same amount? Do you think
the majority of customers would feel the same way as you do? Why?
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