Multiple Choice
Which of the following observations is true of price elasticity?
A) Price elasticity is only affected by demographic factors,not psychological factors.
B) Price elasticity is a measure of consumers' price sensitivity.
C) The estimation of price elasticity from historical data is an expensive approach and is not limited to the consideration of price changes.
D) Crude estimates of price elasticity are not useful to pricing decisions.
Correct Answer:
Verified
Correct Answer:
Verified
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