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Sony recognizes that electronic products can be especially frustrating or satisfying for consumers and often are both at the same time. To better their product and customer experience, they have hired a consumer researcher to measure consumers' positive and negative emotions when using Sony's electronic products like video games, cellphones, computers, and televisions. Which measure is best for this purpose?
Normal Good
A good for which demand increases as the income of consumers increases.
Price Elasticity
measures how much the quantity demanded of a good responds to a change in the price of that good.
Elastic
Refers to a situation where the demand or supply for a product or service significantly changes in response to price changes.
Coefficient
In algebraic expressions, it's the numerical or fixed quantity that comes before and multiplies the variable.
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