Why are pricing decisions important to an organization-, Business Management

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Why are pricing decisions important to an organization-

1. Why are pricing decisions important to an organization?

2. Compare and contrast price and nonprice competition. Describe the conditions under which each form works best.

3. Why do most demand curves demonstrate an inverse relationship between price and quantity?

4. List the characteristics of products that have inelastic demand, and give several examples of such products.

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