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( Managerial economics ) Price elasticity of demand plays such an important role in business decision making that managers should understand not only how to
( Managerial economics ) Price elasticity of demand plays such an important role in business decision making that managers should understand not only how to use the concept to obtain information about the demand for the products they sell, but also how to recognize the factors that affect price elasticity. Explain these factors and how they affect the price elasticity of demand
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