My graph for the article I found did not work but here is the link for my article : http://unicorn.sait.ab.ca/uhtbin/cgisirsi/DQQAX3wxgD/SAIT/106310014/9
It is about the theory of elasticity and where the idea originally came from. It was quite an interesting read and I learned a solid amount from it. It states that elasticity has to make balance for the price to be at a perfect number to maximize revenue. If the elasticity of a product makes it too high it may cause consumers to stray away from it and decrease revenue. It also may make the price to low and as sales will increase money will not be gained at the same rate because the product is not worth as much with a lower price.
Elasticity is an interesting topic and is one that is much up for debate. It can either minimize or maximize the revenue of the product depending on how it affects the product and its prices.
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