29. Which of the following statements regarding price elasticity is false?

The concept of price elasticity is an extension of the economic pricing model.

Demand is elastic if a price change has a large negative impact on sales volume.

Demand is elastic if price changes have no impact on sales volume.

Measuring price elasticity is an important objective of market research.

Demand is relatively inelastic if price changes have little impact on sales quantity.

30.In a typical business, the firm's overall demand would be influenced by interactions of pricing policies and:

the company's reputation.

the quality of goods and services offered.

competing goods and services.

advertising and promotional campaigns.

all of these factors.