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Describe the managerial informational roles identified by Mintzberg and give an example of each.
Elasticity
A concept that measures the responsiveness of one variable in relation to changes in another variable, often used in economics to describe how changes in price affect supply or demand.
Linear Demand Curve
A graphical representation of the relationship between the quantity of a good that consumers are willing to buy and its price when the relationship is directly proportional.
Elasticity
A measure of how much the quantity demanded or supplied of a good responds to a change in price, income, or other related factors.
Price Ranges
The spread between the lowest and highest price at which a good or service is sold in a market.
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