Smith automotive determined that for their product offering, Ask an Expert

Management Studies

Smith Automotive determined that, for their product offering and the market to which they are selling it, the Ease of Switching Index and the Supply/Demand Index are both less than 1.0, meaning that it is difficult for buyers to switch and that it is a seller's market. This indicates that Smith's price is _____.

a) good

b) inelastic

c) moderately elastic

d) very elastic

e) unit elastic

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Business Management, Management Studies

Category:- Business Management
Reference No.:- M9101387

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