Viewing a single comment thread. View all comments

javanator999 t1_iuf47ln wrote

Reply to comment by Zer0Summoner in ELI5 why do prices rise and what can be done about it? by AnEntirePeach

Actually, they would raise prices if demand is in-elastic. A demand elasticity greater than one would mean that demand drops faster than prices rise, so revenue to seller goes down.

3

Zer0Summoner t1_iuf784u wrote

Yeah you're right. My BS in business is from 11 years ago and I never worked in that field so sometimes I get the terms confused these days.

1