Discuss whether knowledge of price elasticity of demand is of use to a company selling things with different price elasticities of demand.

A knowledge
of price elasticity of demand is beneficial for any company to have.   The knowledge can be
practical rather than theoretical.  In other words, as long as the companys decision makers
understand the concept in practice, they do not need to know the term price elasticity of
demand.  However, if they have no knowledge of the idea at all, they will harm
themselves...