If Demand Is Price Inelastic, Does This Mean That Suppliers Are Unable To Compete?


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Yes it's true! When the demand is price inelastic, then there is no price war between the suppliers because consumers are indifferent to the price changes. In this situation, the competition is based on other factors like promotional strategies, advertising strategies and the easy to access or use the product etc. For more information click on the link:
Inelastic price

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