You work for a company that produces statistical software used by professional 3. researchers and students. Researchers have a price elasticity of demand of-0.3, while students have a price elasticity of demand of -1.5. Your boss asks you to figure out a pricing strategy for your product. Describe a pricing strategy that separates these two customer groups and which group should be charged more in your pricing strategy.

You work for a company that produces statistical software used by professional 3. researchers and students. Researchers have a price elasticity of demand of-0.3, while students have a price elasticity of demand of -1.5. Your boss asks you to figure out a pricing strategy for your product. Describe a pricing strategy that separates these two customer groups and which group should be charged more in your pricing strategy.

Economics For Today

10th Edition

ISBN:9781337613040

Author:Tucker

Publisher:Tucker

Chapter5: Price Elasticity Of Demand And Supply

Section5.3: Determinants Of Price Elasticity Of Demand

Problem 1YTE: According to the previous discussion, what factors influence the price elasticity of demand for...

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