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Price Elasticity Of Demand: Four Factors Strolling Essay

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Price Elasticity of Demand: Four Factors Strolling through the aisles at the local Boston Store led me to the Jeans department where I was overwhelmed with the selection: Guess, Ralph Lauren, Levi Strauss, Calvin Klein, and others. Which of these products would I purchase and how would the price elasticity of demand impact my decision? The...

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N.D.). A good is considered elastic (>1) if a price change elicits a greater proportional change in quantity demanded. Inelastic (

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Sources Used in Documents:

References

Mankiw, N.G. (2004). Principles of economics (3rd ed.). Chicago, IL: Thomson

South-Western.

NetMBA. (N.D.). Elasticity of demand. NetMBA. Retrieved April 29, 2011 from http://www.netmba.com/econ/micro/demand/elasticity/price/

QuickMBA. (N.D.). Price Elasticity of Demand. QuickMBA. Retrieved April 29, 2011
from http://www.quickmba.com/econ/micro/elas/ped.shtml


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