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How can the concept of price elasticity be used to help identify a brand's competitors?

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How can the concept of price elasticity be used to help identify a brand's competitors?

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How can the concept of price elasticity be used to help identify a brand's competitors?

Price elasticity measures the degree of change in demand with respect to changes in the price of the related products. If the degree of change in demand exceeds the percentage of change in product price, the product is ...

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