Price elasticity of demand

Remember: The elasticity of a product, whether in the supply or demand sector, is determined by how sensitive the product is to a change in price.

Choose a product from the market and answer the following:

1. How, for the selected product, does the company manage to modify the prices according to their different levels of elasticity through different moments or time of existence of the product?
2. Be sure to include a description of the product you selected.
3. Defines the concept of "price elasticity" of product demand.