Price elasticity

Price elasticity

150 words – APA format

Can we use the concept of price elasticity to identify a brand’s competitors? How would that work?

2 References required

preview of the answer…

Price elasticity of demand is used to show the responsiveness of the quantity of goods demanded in response the change in its price. Different commodities have different price elasticity. Some commodities are perfectly elastic while others are perfectly inelastic. If a commodity is perfectly elastic, it means that a slight change in its price leads to a very huge reduction I the quantity demanded.

APA 303 words

Share this paper
Open Whatsapp chat
1
Hello;
Can we help you?