Recognize whether product is price elastic or inelastic

Reference no: EM13389725

Your company wants to increase revenue and has asked you to work on a project to determine whether the demand for a product is elastic or inelastic. Search the Internet and identify one product sold by an organization. Identify whether the product is price elastic or inelastic. Recommend a pricing strategy to increase revenue. Justify your strategy and share your thoughts. Consider which factors make it price elastic or inelastic.

Reference no: EM13389725

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