When the Montreal Gazette newspaper reduced the weekly subscription price from $5.00 to $4.00 (a savings of

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When the Montreal Gazette newspaper reduced the weekly subscription price from $5.00 to $4.00 (a savings of 20), the number of subscriptions sold increased by 5%.

This suggests that their customers have ________ demand and that the lowest price ________ income.

Explain why it is inelastic and diminished.

instead of elastic thank you

Related Book For answer-question

International Marketing And Export Management

ISBN: 9781292016924

8th Edition

Authors: Gerald Albaum , Alexander Josiassen , Edwin Duerr

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Posted Date: Mar 14, 2024 08:50 AM

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When the Montreal Gazette newspaper reduced the weekly subscription price from $5.00 to $4.00 (a savings of

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This scenario suggests that the customers of the Montreal Gazette newspaper have inelastic demand an... View the full answer

International Marketing And Export Management

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