Elucidate impact the price elasticity of the product

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Q. explain how the necessity of a good and the availability of substitutes impact the price elasticity of the product. The product is beef.

Q. Assume that GreatReception, Inc., can charge any number of prices to various consumers. If GreatReception perfectly price discriminates, what is its total profit? ($1225, $9800, $4900, or $2450)

Reference no: EM1358151

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