Explain the Factors that Affect Consumer Responsiveness to Price Changes for this Product
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Instructions
Examine the price elasticity of demand for the product(s) Netflix sells.
a) Analyze the available data and information, such as pricing and the availability of substitutes, and justify how you determine the price elasticity of demand for Netflix.
b) Explain the factors that affect consumer responsiveness to price changes for this product, using the concept of price elasticity of demand as your guide.
c) Assess how the price elasticity of demand impacts “Netflix’s pricing decisions and revenue growth.
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