Business, 18.05.2021 18:50 21shalissa420

Identify the determinants of the price elasticity of demand. Explain each one. Determine whether each of the following items is elastic or inelastic: bottled water, gourmet coffee, Apple cell phones, and gasoline. Explain your reasoning. Distinguish between a necessity and a luxury. How are the price elasticity of demand and total revenue related? Why is the price elasticity of demand important to pricing?

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Identify the determinants of the price elasticity of demand. Explain each one. Determine whether eac...

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