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For the pharmaceutical company to successfully price discriminate; the market must be split into two- both which have a different PED for the drugs. Consumers with inelastic price elasticity for drugs are...
Interest rates have an impact on the component of aggregate demand (AD) in an economy. AD is made up of consumption + investment + government spending + net trade. A rise in interest rates would mean cons...
For this question, we need to talk about the price elasticity of supply of two things (1) frozen pizzas and (2) fresh vegetables. If supply is more price elastic, then th...
Trade is the international exchange of goods and services. An economy can engage in trade because of the variation of production efficiency between countries, it is able to export goods it produces at a r...
The difference between an inferior good and a normal good is how they react to a change in the consumers income.If there was a rise in the consumers income, they would demand more for a normal good, as pe...
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