Price Elasticity of Demand
The price elasticity of demand shows the impact of price change on the product quantity demanded by the consumers. It is also product specific. In other words, the prices of some products are relatively inelastic to demand while those of others could be quite elastic to demand.
Identify a product and explain the potential price elasticity of demand for this product. Justify your position with adequate details based on the research and analysis.
The minimum expectation for the discussion is for the student to post an original response in the first week and respond to, expand upon, or challenge the post of another student (or the professor) in the second week. You should monitor the discussions so that you can respond to any challenges or questions you receive on the discussion board with additional detail or support.