One Problem in Relying on Price Elasticity and Demand Curves

question 32

Multiple Choice

One problem in relying on price elasticity and demand curves when setting prices is

• A) the way a product or service is marketed can have a profound impact on price elasticity.
• B) the underlying ideas of the demand curve and elasticity are less relevant in the modern economy.
• C) only economists can properly analyze demand curves and set prices using this tool.
• D) competitors can construct the same demand curves, so there is no advantage in using them.
• E) marketing split from economics over the ideas of demand and elasticity.

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Definitions:

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Intersectionality

A framework for understanding how aspects of a person's social and political identities combine to create different modes of discrimination or privilege.

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