https://criticalcommons.org/Members/joyofecon/clips/vurtego

Watch the Shark Tank video clipLinks to an external site. where the sharks hear a business pitch from the founder of Vurtego Pogo Sticks then answer the following questions:

1. What course concept does this video clip relate to?

2. In the video clip, the sharks recommend that Brian Spencer at least double the price of his pogo sticks. Explain why Brian Spencer made that recommendation (explain in terms of price elasticity of demand).

3. What is the predominant factor for why Vurtego Pogo Sticks have the price elasticity of demand that they do?

Enlist all the determinants of elasticity of demand (There are four of them).