Companies pricing decisions and revenue

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From a microeconomic perspective, are Nike products elastic or inelastic? Could it be possible that Nike products are inelastic given that if consumers have a demand for Nike products (instead of other brands) they will purchase Nike products at any price? Or because there are other options for similar branded apparel in addition to the other factors that make products elastic, are Nike products are elastic? Also, how does price elasticity of demand impact a companies pricing decisions and revenue?

Reference no: EM132414899

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