Read the followingarticle in the link below, on price elasticity from Harvard Business Review then answer the following questions:

https://hbr.org/2015/08/a-refresher-on-price-elasticity

a.)Do companies prefer to sell products that are more elastic or more inelastic?Briefly explain why.

b.)What are the major factors that determine the price elasticity of a product?

c.)What does the article describe as the preferred way to calculate price elasticity, and what other information besides elasticity is relevant to inform marketing efforts?

d.)Suppose a marketing company runs a market test and finds that the price elasticity equals -0.8.Would a company be more inclined to increase or to decrease price given this elasticity?

Explain what would happen to quantity purchased (by how much it would change) and total revenue (would it increase, decrease, or stay the same) if the company were to decrease price by 10%.