As a small-business owner, you need to know how changes in price can affect your income. While you may guess that lowering prices will increase sales, you need to confirm this hunch with a total ...

A small business can use elasticity to determine which products it can raise prices on and which prices should have lower prices. If a product has elastic demand, it means your customers buy it even ...

The challenge is wrapping your head around the difference between elasticity and inelasticity of demand. Elasticity of demand measures how much the demand for a product or service changes relative to ...