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$2 increase reduces sales of Hong Kong Economic Journal

出自香港新聞網 - 樹仁新傳系學生實習習作

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Tim Chan, Executive Chief Editor of Hong Kong Economic Journal says sales have been hit by the $2 price increase. He said the spike, from $6 to $8, was an aggressive one.

Speaking at a general assembly of Hong Kong Shue Yan University this afternoon, Chan said the decrease in sales was less serious. As newspaper is a relatively inelastic good, the reaction to price increase is smaller compared to other goods. The reasons are that newspaper is a daily necessity and the cost of getting it is very low. At this very beginning stage, the sales decrease is still small and it meet the expectation of the corporation.

Chan added that the entire newspaper industry is focusing more on the internet version instead of the print one. The total number of subscribers of internet version in 2 years can be as many as the number of of people buying newspaper in 20 years.

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