Describe the price elasticity of demand


Different products have different price elasticities. Heart medication, for example, is very inelastic and corn is elastic. Find a product that has not already been selected by another student and describe the price elasticity of demand. How much pricing power might an organization have over pricing of this product based on a product's elasticity? Discuss which of the elasticity rules you used to determine your answer.

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Microeconomics: Describe the price elasticity of demand
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