18 May Discussion Post Micro Econ
Think of three goods for which the demand is inelastic with respect to price. Do these goods ever go on sale? Does understanding the relationship between elasticity and total revenue help you understand why some goods go on sale and others don’t? Share your thoughts on elasticity. Do businesses prefer one type of elasticity – elastic or inelastic and, what can they do to achieve that elasticity. Provide at least one quotation from your research and its source (Must be after Jan 1, 2019) in your discussion.
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