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  3. 1. describe in a paragraph, what is price elastici

1. Describe in a paragraph, What is price elasticity? 2. How does Moore’s Law relate to...

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General Management

1. Describe in a paragraph, What is price elasticity?

2. How does Moore’s Law relate to this concept?

3. What’s special about falling chip prices compared to pricedrops for products like clothing or food?

Answer & Explanation Solved by verified expert
3.9 Ratings (485 Votes)
Price elasticity refers to the term which describes how the demand for a product or service reacts to its own price As we all know because the Law of Demand says that the price would go up the demand would fall and    See Answer
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