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In reviewing chapter 6 (Simple pricing) of Managerial Economics textbook, it talked about theshutdown price, using elasticity to determine the effects of price changes, and

In reviewing chapter 6 (Simple pricing) of Managerial Economics textbook, it talked about theshutdown price, using elasticity to determine the effects of price changes, and cost-based pricing. What is the importance of considering elasticity in pricing decisions and the danger of relying solely on costs.

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Recommended Textbook for

Managerial Economics

Managerial Economics

Authors: William F. Samuelson, Stephen G. Marks

8th edition

1118808940, 978-1119025900, 1119025907, 978-1119025924, 978-1118808948

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