How does price elasticity of demand affect a firms pricing, Microeconomics

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How does price elasticity of demand affect a firms pricing

Discussion:

What is the definition of price elasticity of demand? What is the relationship between price elasticity of demand and total revenue?

How does price elasticity of demand affect a firm's pricing decisions? How does the availability of substitutes affect the price elasticity of demand? Provide a real-world example that illustrates your points.

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Microeconomics: How does price elasticity of demand affect a firms pricing

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Microeconomics: How does price elasticity of demand affect a firms pricing

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