A household decorating store is seeking to make pricing decisions for products that it has in stock based on calculations to hand about the co-efficient of elasticity for various products that it stocks. The store is in competition with rival sellers that are very close to its premises. The business is concerned to make sure that it does not end up with too much unsold stock. Using your understanding of the concepts of elasticity, what advice would you give about pricing decisions for the following products. In each of the following situations, how might the store use knowledge of elasticity to adjust its pricing strategies?