Elasticity of demand (Ed) to me means degree of connection – how are sales (total revenue) connected to price. What happens when price is changed. If you are managing a company how would this elasticity impact your strategy? Do you want the elasticity to be more or less elastic? How would you implement your decision – use real world examples (GM, Publix, Pizza Restaurant, etc.)
Provide at least one quotation from your research and its source (Must be after July 1, 2019) in your discussion. Your initial post should be substantial and answer the questions in detail.