Why are people less sensitive to price when it comes to gasoline? Price Elasticity.
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Price elasticity keeping you big as hell
Sheesh $5 for gas is crazy
At least it’s by the gallon, I pay $2 a liter, almost double the price.
Some cars DONβT like Certain Brands of Fuel as much as others (Octane Ratings being equal.).
Our econ teacher spent a whole lecture to explain this, and here I am learning from just one short.
Can we have youtube courses with book supplements or something?β¦
Very high-end luxury goods from brands like Ferrari and Rolex are inelastic.
Dam i remembered my school