1. Is the demand curve for your product relatively elastic, inelastic, or unitary elastic? Demonstrate this for your company's product by how much the qy demanded will change if you pass on the 10% increase in cost. In other words, prepare a forecast showing by what percentage the quantity demanded will change if your prices are raised by 10%.Calculations showing the percentage change in quantity demanded.

Answer rating: 100% (QA)

To determine the elasticity of demand for a product you can use the following formula Elasticity of ... View the full answer