Problem
Write a paragraph describing a business you might like to own. Describe the product your business makes. Then use the three determinants of demand elasticity to predict the elasticity of demand for that product. Explain the pricing policy you would use to get consumers to maximize their expenditures on that product.
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.