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Hi Moira, You're right, the simulated market was elastic, and the constantly changing prices directly affected purchase decisions. You make a great point about oranges
Hi Moira, You're right, the simulated market was elastic, and the constantly changing prices directly affected purchase decisions. You make a great point about oranges not being a luxury item, but also not a necessity. The availability of substitutes like peaches, apples, and other snackable fruits definitely affects demand. This is a key determinant of price elasticity, and it's smart to consider it when making pricing decisions. Apryle Lawson yvesterday at 4:55 AM Hello You are correct the prices did change all the time. oranges are not necessary. | also found it to be a little difficult at first. You seem to have a good understanding when it comes time to own your own business, you will know what needs to be done. But if you take Netflix, Hulu, and so on the it may be to consumer information, but they are aloo changing alot
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