______ is the change in demand that is anticipated to occur at the various price points the organization is considering for its product and/or service.
A) Price elasticity
B) Demand elasticity
C) Consumer price threshold
D) Buyer threshold
E) Payback period

Question

Quizplus · Accepted Answer

Price elasticity refers to the responsiveness of demand for a product or service to a change in its price. It can help organizations determine the optimal price point to maximize revenue and profitability. By analyzing price elasticity, organizations can anticipate the change in demand at different price points and adjust their pricing strategy accordingly.

______ Is the Change in Demand That Is Anticipated to Occur