Answer to Question #156010 in Economics for Lora

Question #156010


Using the concept of price elasticity of demand if Arnold Clark were to lower the price of their motor vehicles what relevance would this have on the business.



1
Expert's answer
2021-01-15T18:19:53-0500

if Arnold Clark were to lower the price of their motor vehicles, than it would be good for the business if the demand is elastic and bad if the demand is inelastic.


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