How does the elasticity of demand affect the price for a given product?

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asked Sep 12, 2018 91.4k views

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Longwen Ou · Answer 1 · 2018-09-19T01:40:11+0000

This term shows how responsive the quantity of demand for a product will be when you change the price. People will not always purchase your product if the price is too high.

How does the elasticity of demand affect the price for a given product?

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