LONG-TERM INVESTMENT DECISIONS2Long-Term Investment DecisionsAssume that the low-calorie frozen, microwavable food company from Assignments 1 and 2 wantsto expand and has to make some long-term capital budgeting decisions. The company is currentlyfacing i

 LONG-TERM INVESTMENT DECISIONS2Long-Term Investment DecisionsAssume that the low-calorie frozen, microwavable food company from Assignments 1 and 2 wantsto expand and has to make some long-term capital budgeting decisions. The company is currentlyfacing increases in the costs of major ingredients.1.Outline a plan that managers in the low-calorie, frozen microwaveable food company couldfollow in anticipation of raising prices when selecting pricing strategies for making theirproducts response to a change in price less elastic. Provide a rationale for your response