Manufacturers of Systems Such as Razors and Ink Jet Printers

question 129

True/False

Manufacturers of systems such as razors and ink jet printers use a system of pricing called "two-part pricing": one price for the disposable products and another for the "hardware."

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Definitions:

Elastic

A term in economics that describes the sensitivity of demand or supply to changes in price or income.

Price Range

The spread between the lowest and highest price at which a product or service is offered in the market.

Demand Schedule

A table that shows the quantity of a good or service demanded at different price levels.