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Price Elasticity of Demand

00h 08m (1 section)

Course Description

Prices fluctuate all the time. What happens when a product gets more expensive? When it gets cheaper? Do customers behave differently?

Price elasticity measures how prices affect supply and demand. In this course, you’ll observe the difference between elastic and inelastic demand. Then you’ll learn about how substitutes and other influencing factors characterize both a product and the behavior of its customers.

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