working on a business discussion question

Learning Goal: I’m working on a business discussion question and need an explanation and answer to help me learn.1.Elasticity is an important factor when it comes to making decisions on pricing. Elasticity helps businesses understand what prices are considered acceptable, which may help build revenue. Depending on just costs alone for pricing decisions seems to ignore the demands of the consumer, which in return may lead to less sales and less profits. Please reply to post within 2-3 sentences
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