Re:Big Pharma Greed’s Knows No Bounds
by robnado on Saturday January 21, 2023 @03:18PM
(#34469980)
Worded differently: when the demand curve is inelastic, changes in price don’t change demand much in the short term. For more elastic curves, higher prices reduce demand a lot more, which incentivizes setting a lower price if businesses are to optimize profit.
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Re:Big Pharma Greed’s Knows No Bounds
by anticensor on Saturday January 21, 2023 @04:25PM
(#34470702)
Yeah, pricing-based manipulation works only best if supply is completely inelastic but demand is completely elastic.