Question: 1. Following question based on technical article published by ACCA (please refer attachment) a. Illustrate with examples of your own, how the demand and Price

1. Following question based on technical article published by ACCA (please refer attachment) a. Illustrate with examples of your own, how the demand and Price elasticity influence the pricing decision of a firm. (5 marks) New product pricing strategies include market skimming and market penetration pricing" b. Critically analyze the use of these two pricing strategies and illustrate with examples when penetration pricing and skimming would be more beneficial to a firm. (5 marks )

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