Engineering
8 years ago

Market Behavior Revolutionized by Elasticity in Pricing Demands.

Journal of Ningbo Polytechnic
Application demand price clasticity instructs the market behavior
Liang Ji-yu

Paper Summary

The article discusses how market behavior can be understood using math to calculate how demand for a product changes with price. By defining demand price elasticity and using specific examples, the researchers show how businesses can decide whether to lower or raise prices based on this information.

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