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Real world elasticities

Real world elasticities: Managerial Economics
Real world elasticities: Managerial Economics

In the real world, price elasticities depend on many factors. As a rule of thumb, you have a done a good job if the price elasticity of your product is closer to zero than highly negative. It means that your customers are rather loyal to your product and service and that you are able to charge a better price.

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Skill Level Intermediate
1h 20m
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