Tag Archives: elasticity

Pick a business that you know something about or can find information on. Briefly describe the business and its main product or service.

This assignment is a homework assignment. The writing of two to three (2-3) pages must be original and your writing. Price Elasticity of Demand measures the extent to which the quantity demanded of a good or service changes when the price of the good or service changes, ceteris paribus. Income Elasticity of Demand measures the […]

  How would your packaging and pricing differ if you knew the price elasticity is 1.3, and how would this impact your pricing decision?

Explain your pricing system, your final price you would offer, and how you determined that price.  How would your packaging and pricing differ if you knew the price elasticity is 1.3, and how would this impact your pricing decision? b: Based on the location of the hotel, if the hotel was to expand its services and […]