After watching the video, Homer did not make the best decision in raising the prices of admission because he didn't take a lot of factors into consideration when raising the price. He should have done some research before getting the elephants such as the cost of care and so on but since he did not and we do not know how he got the elephants he should have researched and or did surveys to help determine the correct prices to charge for seeing and riding the elephants. Our textbook says that when you think about the term elasticity, we need to think of it as responsiveness. "We want to determine the percentage change in quantity demanded in response to a percent-age change in price" (Miller. Pg. 417). Homer's huge increase in price and not having any information to give to his customers on why there was an in ve all the customers AWAY