ECON 200 Lecture Notes - Lecture 6: Coffee Table, High Fructose Corn Syrup, Tariff
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A: students have a higher price sensitivity relating to the concept of price elasticity of demand have a higher price elasticity of demand, where professionals have a lessens elasticity or inelastic demand. Therefore the quantity sold, is higher when giving student discounts because the demand is higher. Dimensions of the concept of price elasticity of demand . A: brand names have a ____ price elasticity of demand because they can be easily substituted out for another brand of the same product. **second law of demand; price elasticity changing over time; becoming more elastic as time goes by. Limiting cases, to the price elasticity of demand . The perfectly elastic and perfectly inelastic demand curve: A good with a perfect or close substitute. Tea brands, coke & pepsi (for some) dq__ Limiting cases, to the price elasticity of demand, continued .
