The four key concepts in this simulation focused on the following: Price Elasticity The percent change in demand quantity can be more or less than the change in its price. Relative elasticity/inelasticity of demand indicates whether the percent change in demand quantity is less than percent change in price. In the long-term, demand for any product tends to be more "price elastic" due to the availability of substitutes. Elasticity of Demand also indicates whether …showed first 75 words of 537 total…

…showed last 75 words of 537 total…per day or $10 per half day with that price doubling for boarding or kennel services. Where as a walking service averages about $25 per week for 2 ten-minute daily walks Monday through Friday and in home services averaging $25 - $30 per day. Price adjustments have increased demand in the drop-off sector as having space resources readily available (i.e. -warehouse space or open land) have become increasingly available and by market standards, very cheap to acquire and maintain.