Solved: Explain the role of supply and demand in determining price, Marketing Management

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Explain the role of supply and demand in determining price

Discussion Post: Pricing Concepts

• Why is pricing so important to the marketing manager?

• How does price allocate goods and services?

• Why do many firms not maximize profits?

• Explain the role of supply and demand in determining price.

• Explain the concepts of elastic and inelastic demand. Why should managers understand these concepts?

The response should include a reference list. One-inch margins, Using Times New Roman 12 pnt font, double-space and APA style of writing and citations.

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Marketing Management: Explain the role of supply and demand in determining price

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