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ECO 561 Week 1 DQ 1
This work of ECO 561 Week 1 Discussion Question 1 comprises:
Different products have different elasticities. Heart medication, for example, is inelastic and corn is elastic. All firms can increase the volume of goods or services sold by cutting prices; however, elastic products are much more price sensitive than inelastic products. Find a product that has not already been selected and describe the price elasticity. How much control might an organization have over pricing based on a product