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Impact of Price on Consumer Choices

Price Elasticity

Price Elasticity

As this graph demonstrates, the slope of the demand curve will vary as a direct result of how elastic consumer purchasing behaviors will be compared to price changes.

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    Boundless vets and curates high-quality, openly licensed content from around the Internet. This particular resource used the following sources:

    Wikimedia.
    http://upload.wikimedia.org/wikipedia/commons/e/ee/Elasticity_and_Two_Demand_Curves.jpg CC BY-SA.

Related Terms

  • elasticity
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