Discussion Post: Price Elasticity
Price markups:
Visit Edmunds website to obtain invoice and retail price information on new and used vehicles. Choose three different makes and models of new vehicles and research their prices.
• Does the difference between the invoice and suggested retail price vary from model to model? What, in your opinion, explains the differences?
• Are certain options subject to higher markups than other options? Again, in your opinion, what explains any differences you find?
• Are vehicles an elastic or inelastic good?
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.