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Demand, perceived value, overall reputation
Because elasticity is changes depending on the price it is evaluated at. This will then mean that elasticity is different at different point on a demand curve. It can also depend on the scale the demand curve is drawn to
An increase in population
Increase in the population.
Elasticity of demand affects managerial decisions because the demand of a product changes with the wrong business decision. Managers must be careful about what they choose to do with their products.
Demand, perceived value, overall reputation
Because elasticity is changes depending on the price it is evaluated at. This will then mean that elasticity is different at different point on a demand curve. It can also depend on the scale the demand curve is drawn to
An increase in population
Increase in the population.
Elasticity of demand will help managers determine what behaviors affect customer's buying behavior. Price elasticity will tell managers whether they can change the price of products or not.
There are plenty of factors affecting elasticity of demand including climate of the area. Other factors that effect elasticity of demand include supply and group of people buying.
Elasticity of demand affects managerial decisions because the demand of a product changes with the wrong business decision. Managers must be careful about what they choose to do with their products.
Because elasticity means when the demand is changing. a subsitute consumer in choice of theory. the substiture affects elasticity is it changes over time. substitute is choice and elasticity is demand. put those together and you have a fair deal with your money.
Because elasticity means when the demand is changing. a subsitute consumer in choice of theory. the substiture affects elasticity is it changes over time. substitute is choice and elasticity is demand. put those together and you have a fair deal with your money.
1)price elasticity of demand 2)income elasticity of demand 3)cross elasticity of demand
Unitary elasticity is when the price elasticity of demand is exactly equal to one.
distinguish between price elasticity of demand and income elasticity of demand