Discussion Post
We will be discussing demand elasticity and the impact of consumer behavior on demand.
Demand elasticity is actually a quantitative measurement designed to show percentage changes in quantity demands by consumers. Elasticity is measured in terms of product prices, consumer income, prices of other goods and services, and several other variables. Elasticity, then, is a measure of the responsiveness to the changes in these variables.
o Select a product that is marketed in the U.S. that has shown significant movements in consumer demand elasticity. Identify the reasons for the movements and explain how the elasticity has affected management's ability to control pricing.
The response should include a reference list. Using double-space, Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.