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You are the CEO of an Electronics Component Manufacturing Company. Considering price elasticities, would you say the consumer of your product has a higher or lower sensitivity to price changes of your product. For this exercise it is important to consider the sector in which you are a role player, as certain products automatically have prices that will make consumer more sensitive and other less sensitive depending on how expensive the product is. Will consumers tend to buy more or less of your product if they have an increase in income?
Sagot :
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