Using elasticity to determine the effects of price changes, and cost-based pricing. Discuss the importance of considering elasticity in pricing decisions and the danger of relying solely on costs.

Journal – 200 words in length

No references or citations are necessary.

Additional Details on the grading

Response reflects indepth consideration and personalization of the theories, concepts, and/or strategies presented. Viewpoints and interpretations are insightful. Response demonstrates synthesis of ideas presented.