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Marketing 5th Edition by Dhruv Grewal,Michael Levy
Edition 5ISBN: 978-1259446290Marketing 5th Edition by Dhruv Grewal,Michael Levy
Edition 5ISBN: 978-1259446290 Exercise 8
Imagine that a pharmaceutical company has just developed a cure to a major fatal disease. Because the firm is the only one even close to a cure for this disease, price is inelastic, meaning it could virtually charge any price and people would pay. Discuss the ethical implications of choosing a price.
Explanation
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Price inelasticity means that a percenta...
Marketing 5th Edition by Dhruv Grewal,Michael Levy
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