In 2019, after Netflix increased the price of its most popular streaming plan from $10.99 per month
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In 2019, after Netflix increased the price of its most popular streaming plan from $10.99 per month to $12.99 per month, competing service Hulu cut the price of its basic plan from $7.99 per month to $5.99 per month. What was Hulu assuming about the price elasticity of demand for its basic plan? Why did Netflix’s decision to raise the price of its most popular plan affect Hulu’s pricing strategy?
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Hulus decision to cut the price of its basic plan from 799 per month to 599 per month after Netflix increased the price of its most popular streaming ...View the full answer
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