Question

response elastacity measures the relationship between sales and​

Answer 1

Answer:

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ᴏɴᴇ ᴏꜰ ᴛʜᴇ ᴍᴏꜱᴛ ᴘʀᴀᴄᴛɪᴄᴀʟ ᴀᴘᴘʟɪᴄᴀᴛɪᴏɴꜱ ᴏꜰ ᴘʀɪᴄᴇ ᴇʟᴀꜱᴛɪᴄɪᴛʏ ᴏꜰ ᴅᴇᴍᴀɴᴅ ɪꜱ ɪᴛꜱ ʀᴇʟᴀᴛɪᴏɴꜱʜɪᴘ ᴛᴏ ᴛᴏᴛᴀʟ ʀᴇᴠᴇɴᴜᴇ. ᴀ ꜱᴇʟʟᴇʀ ᴡʜᴏ ᴋɴᴏᴡꜱ ᴛʜᴇ ᴘʀɪᴄᴇ ᴇʟᴀꜱᴛɪᴄɪᴛʏ ᴏꜰ ᴅᴇᴍᴀɴᴅ ꜰᴏʀ ᴛʜᴇɪʀ ɢᴏᴏᴅ ᴄᴀɴ ᴍᴀᴋᴇ ʙᴇᴛᴛᴇʀ ᴅᴇᴄɪꜱɪᴏɴꜱ ᴀʙᴏᴜᴛ ᴡʜᴀᴛ ʜᴀᴘᴘᴇɴꜱ ɪꜰ ᴛʜᴇʏ ʀᴀɪꜱᴇ ᴏʀ ʟᴏᴡᴇʀ ᴛʜᴇ ᴘʀɪᴄᴇ ᴏꜰ ᴛʜᴇɪʀ ɢᴏᴏᴅ.

Answer 2

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ᴏɴᴇ ᴏꜰ ᴛʜᴇ ᴍᴏꜱᴛ ᴘʀᴀᴄᴛɪᴄᴀʟ ᴀᴘᴘʟɪᴄᴀᴛɪᴏɴꜱ ᴏꜰ ᴘʀɪᴄᴇ ᴇʟᴀꜱᴛɪᴄɪᴛʏ ᴏꜰ ᴅᴇᴍᴀɴᴅ ɪꜱ ɪᴛꜱ ʀᴇʟᴀᴛɪᴏɴꜱʜɪᴘ ᴛᴏ ᴛᴏᴛᴀʟ ʀᴇᴠᴇɴᴜᴇ. ᴀ ꜱᴇʟʟᴇʀ ᴡʜᴏ ᴋɴᴏᴡꜱ ᴛʜᴇ ᴘʀɪᴄᴇ ᴇʟᴀꜱᴛɪᴄɪᴛʏ ᴏꜰ ᴅᴇᴍᴀɴᴅ ꜰᴏʀ ᴛʜᴇɪʀ ɢᴏᴏᴅ ᴄᴀɴ ᴍᴀᴋᴇ ʙᴇᴛᴛᴇʀ ᴅᴇᴄɪꜱɪᴏɴꜱ ᴀʙᴏᴜᴛ ᴡʜᴀᴛ ʜᴀᴘᴘᴇɴꜱ ɪꜰ ᴛʜᴇʏ ʀᴀɪꜱᴇ ᴏʀ ʟᴏᴡᴇʀ ᴛʜᴇ ᴘʀɪᴄᴇ ᴏꜰ ᴛʜᴇɪʀ ɢᴏᴏᴅ....