Hello experts, I have posted this question many times in chegg, but every time people answering this question to use ai tool like chatgpt, please dont use gpt and other ai tool. Question: Explain the concept of elasticity and its importance in pricing strategies. Please Don't use chatgpt or other ai tool. If you know correct answer then attempt if you gave wrong answer then i gave $30$ dislikes for you and more from my friends accounts also.