Price elasticity has for business pricing-output strategy

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Identify one practical experience you have had in which the seller’s pricing and output strategy would benefit from knowing the price elasticity of demand. It can be a business you have worked in or a business you have interacted with as a customer. Include a description of the experience, whether you believe demand is price elastic or inelastic, and what implications the price elasticity has for the business’ pricing and output strategy.

Reference no: EM131587533

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