[Building Blocks] BB-201 Calculating Price Elasticity

#1

Follows a step-by-step method to manually calculate the Price Elasticity of Demand from the Demand Curve results generated by the Profit Engine node. This is not the recommended approach. Instead, configure the Price Sensitivity node to calculate the impact of a Price Change to Quantity, Revenue, and Profit. Uses the KNIME Extension: Market Simulation by Scientific Strategy - Community Edition A comprehensive description of this workflow with step-by-step instructions can be found at the Scientific Strategy website: https://scientificstrategy.com/bb-201/


This is a companion discussion topic for the original entry at https://kni.me/w/PtrGEJ6t8hdqD90x
0 Likes