Do you think the product would ever go on sale? Why or why not?

The price elasticity of markets and services how reactive a product's demand is to volatility. If a product is inelastic, such as gasoline with no replacements, even a significant increase in price does not affect the quantity demanded. Conversely, if a product is elastic, a slight price rise will cause a substantial drop in demand.

Avg price of elasticity is -0.3

for Ex, if the increase were 20 percent, the demand would fall 6%

Replacements- like electric vehicles, diesel vehicles, and hydrogen vehicles

Income allocation- whichever is cheaper to afford would be the people's first choice

The passing of time- how long it takes to get gas compared to the replacements

Product features- regular, premium, etc

The elasticity of gasoline has been less because many people use gas-powered vehicles.