Describe the concept of inelasticity as it impacts on the development of a market-based or competition-driven price for a manufacturing-related...

Describe the concept of inelasticity as it impacts on the development of a market-based or competition-driven price for a manufacturing-related semi-finished or sub-assembly product. What effect does the supplier of such a product using differentiation value have on this type of elasticity? What role, if any, does product differentiation have on the Economic Value of such a product? Explain your answer.