The Federal Trade Commission.
The Federal Trade Commission has the responsibility of investigating and regulating unfair advertising practices. The Commission has issued strong new guidelines for the funeral industry.
Read For the Grieving, and Other Consumers. This editorial from The New York Times suggests that grieving survivors are unlikely to have a desire to shop around for funeral services, and – while the article was written decades ago – it raises an interesting question that we’re still wrestling with today: What effect will the guidelines discussed in the article have on the funeral service consumer?
In your initial post to this discussion, address the following prompt based on what you’ve learned in this module:
If a mortician was aware of the relationship between elasticity of demand and total revenue, how might he or she take advantage of this information?
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