The conversation between human and AI assistant.
What is the price elasticity of demand for socks?
That makes sense. Is there anything else I should know about the price elasticity of demand for socks?
One thing to keep in mind is that the price elasticity of demand for socks can vary depending on the market segment being considered. For example, the price elasticity of demand for high-end designer socks might be different than for basic, everyday socks.