Mark- ups are generally higher on products that have an elastic demand.

Name: Mark- ups are generally higher on products that have an elastic demand.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Mark-ups are generally higher on products that have an inelastic demand, as customers are less sensitive to price changes and are willing to pay more for the product. In contrast, products with elastic demand have more price-sensitive customers who are less likely to pay high mark-ups.

Mark- Ups Are Generally Higher on Products That Have an Elastic