Pricing Works Only If That Price Actually Brings in the Expected

question 6

Multiple Choice

pricing works only if that price actually brings in the expected level of sales.

• A)Inelasticity
• B)Elasticity
• C)Target return
• D)Markup
• E)Variable

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Definitions:

Price Elasticity

An indicator of the extent to which the demand for a product varies following a price adjustment.

Total Revenue

The total amount of money generated from the sale of goods or services before any costs are subtracted.

Climate Change

The man-made change in Earth’s climate from the accumulation of greenhouse gases caused by the use of fossil fuels.

Price Elasticity

A way to gauge how fluctuations in price affect a good's market demand.