Within reason once again, any amount of force Of the physical analogy that we talked about Going to buy 100 vials per week, no matter what the price is. Raise it to $1 billion, then they would just wouldn'tīe able to afford it. So it's going to squeezeīuy 100 vials a week. The price went up a ton? And what happens This case, they'll still just by 100 vials. What they need in order to maintain their diabetes. Price were to go down? Let's say the price And they're all going toīuy the insulin they need. And we have a group ofĭiabetics who need insulin. Insulation right now is going for $5 a vial. The elasticity of demand might look like for Many diabetics, not allĭiabetics, but many diabetics need to take insulin daily. Some of the more extreme cases and think about what types The price elasticity of demand, I thought I would take a look at
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |