Within a given Scenario the pricing simulation gives
Within a given Scenario, the pricing simulation gives the same results every run. That is, if you input the same set of monthly prices on runs 1,2,3, etc., all the metrics (orders, capacity utilization, revenues, profits, etc.) will be identical from run to run. How can you use this knowledge to estimate Universal’s price elasticity of demand regardless of monthly changes in demand and in the competitor’s price? Demonstrate your method by calculating weekday price elasticity in Nov at a price of $50 (mid-point), using any Scenario (clearly indicate which one you use). Show your work.