President and COO, Champion, Inc.
Iron Mountain, MI
LSSU Business, Economics, and Legal Studies Distinguished Alumni '07
Former LSSU Board Trustee
ELASTICITY OF DEMAND: WHAT GIVES?
Using examples from a competitive seafood market and a monopolistic ferry
service, this program shows the difference between elastic and inelastic
demand. It also plots the graphs that qualify the relative gain or loss in
revenue from price increases or decreases in each situation.