What can a company do with price if price is elastic?

Elasticity is "a measure of responsiveness that tells us how a dependent variable such as a quantity responds to a change in an independent variable such as price." Basically, that means that elastic...

Elastic if there are substitutes which is unlikely but possible as green energy is a growing market Inelastic if there are no substitutes which is mostly the case as in the case of oil, the price is...

Price discrimination is based on the idea that each customer has his or her own maximum price he or she will pay for a good. If a monopolist sets the good's price at the highest maximum price of all...

The main thing that a company does to reduce price sensitivity is advertising to create branding. The brand name is more likely to be able to charge a higher price for the same item, decreasing price...

A company's stock price can show the following: The confidence and trust investors have on this company The profit making history of the company The probabilities of reaping capital appreciation on...