I have a test tomorrow and I urgently need an answer to this! Imagine there are two types of potential customer for jam
Posted: Thu Apr 28, 2022 11:39 am
I have a test tomorrow and I urgently need an answer to this!
Imagine there are two types of potential customer for jam
sold by a small food shop. One is the person who has just runs out and wants some now. The other is the person who looks
in the cupboard, sees that the pot of jam is less than half full
and thinks, I will soon need some more'. How will the price
elasticity of demand differ between these two customers?
Imagine there are two types of potential customer for jam
sold by a small food shop. One is the person who has just runs out and wants some now. The other is the person who looks
in the cupboard, sees that the pot of jam is less than half full
and thinks, I will soon need some more'. How will the price
elasticity of demand differ between these two customers?