Question

What is price elasicity? What are the importent price elascity?​

Answer 1

Answer:

Price elasticity is the measure of the market's response to price changes. Elasticity is important to pricing decisions because it helps us understand whether raising prices or lowering prices will enable us to achieve our pricing objectives.

Explanation:

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Answer 2

• Price elasticity is the measure of the market's response to price changes. Elasticity is important to pricing decisions because it helps us understand whether raising prices or lowering prices will enable us to achieve our pricing objectives.