Pls answer both questions in a correct way. Nice and structural way.

3 Imagine that you own your own business. How would price elasticity of demand impact the pricing decisions of your business? What are the determinants of price elasticity of demand? Identify at least three examples. In your responses, comment on at least one post from your peers and share an example of a company that experienced a change in revenue as the result of a change in the price of the good or service they provided. After reading your peers' posts, explain which determinants of price elasticity of demand could be the cause of the change in demand