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. Based on the above, choose a product on the market and answer the following: 1. How, for the selected product, does the company manage to modify prices based on its 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. Define the concept of "price elasticity" of product demand.