Final answer:
Marketers use statistical software to calculate essential pricing functions like break-even points and elasticity of demand, which are complex and would be tedious to do manually.
Step-by-step explanation:
Computers have given marketers the ability to calculate pricing functions such as break-even points and elasticity of demand by using statistical software programs. These programs can handle complex calculations that would be tedious to do by hand, such as finding the best-fit line and creating scatter plots. Economists and business professionals frequently employ these tools to interpret data mathematically and make informed decisions. For instance, calculating the elasticity along a demand or supply curve often involves using the Midpoint Method for Elasticity, which takes the average percent change in both quantity and price. These approaches support marketers and policymakers in understanding market dynamics more effectively and creating strategies that align with consumer behavior trends and competitive market conditions.