Compute the own price elasticity of demand. In regression analysis, you must use the point elasticity of demand, not the average price elasticity of demand as you have done on the exam. You should have learned of this when you took Business Calculus such as ∆Y/∆X. When computing the own price elasticity of demand, use the average price, the average tuition, and the average soft drinks price.

Leading guitar string producer wound up inc. has enjoyed a competitive advantage based on its proprietary coating that gives its strings a clearer sound and longer lifespan than uncoated strings. one of wound up's competitors, however, has recently developed a similar coating using less expensive ingredients, which allows it to charge a lower price than wound up for similar-quality strings. wound up's competitive advantage is in danger due to a. a lack of perceived value b. a lack of organization c. direct imitation and substitution d. resource immobility