U.S. macroeconomic policy package of 1965-1968
The Washburn guitars reduces their price from $2,499 to $2,699 as a result of the sales of the product drastically increased by 30%, So this represents that the <u>product has an elastic demand.</u>
<h3>What do you mean by elastic demand?</h3>
When the price of a product has a massive effect on the quantity purchased is called Elastic demand. A product is stated to have an elastic demand if sales drop sharply in reaction to a growth in price, or sales spike whilst prices are decreased.
Thus, The Washburn guitars reduces their price from $2,499 to $2,699 as a result of the sales of the product drastically increased by 30%, So this represents that the <u>product has an elastic demand.</u>
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Answer:
Just use G maps and search stakehouse.
Explanation:
