Examine factors that influence price elasticity of demand, Microeconomics

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Examine factors that influence price elasticity of demand

Problem

Suppose after graduating from Holmes Institute you started a classic shoe business for executive ladies in Sydney with a trade mark "JMClassics".

Task

• Examine the factors that influence the price elasticity of demand for your classic shoe business.
• Explain why you should be concerned about elasticity of demand and supply.

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Microeconomics: Examine factors that influence price elasticity of demand

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Microeconomics: Examine factors that influence price elasticity of demand

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