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what is simple way to describe price elasticity of demand and how does price elasticity of demand impact a firm's pricing strategy?

what is simple way to describe price elasticity of demand and how does price elasticity of demand impact a firm's pricing strategy?

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Price elasticity of demand is the responsiveness of the quantity demanded to a change in its price. In simple terms, its the... View the full answer

Price elasticity of Demand can be described as a measure of the adjustment in the amount demanded or obtained of an item in... View the full answer

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