This unit’s readings include information on pricing. You are introduced to the shutdown price, using elasticity to determine the effects of price changes, and cost-based pricing. Discuss the importance of considering elasticity in pricing decisions and the danger of relying solely on costs.

Instructions: Need be at least 300 words in length. Should include at least one APA-formatted scholarly, professional, or textbook reference with accompanying in-text citation to support any paraphrased, summarized, or quoted material.

Froeb, L. (2023). Managerial Economics: A Problem Solving Approach (6th ed.). Cengage Learning US. https://online.vitalsource.com/books/9798214348278