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A brand switching matrix for five brands in a Fast-Moving Consumer Goods (FMCG) category is show below for Weeks 1 and 2. Of the five brands, Brand C decreased its price by 1% from Week 1 to 2 whereas all the other brands kept their prices the same across the two weeks. Week 2 Purchase Brands A B E A 399 190 90 52 80 195 199 55 47 31 Week 1 75 54 187 22 9 Purchase 54 44 23 110 22 E 82 26 12 27 65 (а) What is Brand C's self-price elasticity of demand? Show work. (b) ( What is Brand E's market share in Week 2? Show work.

A brand switching matrix for five brands in a Fast-Moving Consumer Goods (FMCG) category is show below for Weeks 1 and 2. Of the five brands, Brand C decreased its price by 1% from Week 1 to 2 whereas all the other brands kept their prices the same across the two weeks. Week 2 Purchase Brands A B E A 399 190 90 52 80 195 199 55 47 31 Week 1 75 54 187 22 9 Purchase 54 44 23 110 22 E 82 26 12 27 65 (а) What is Brand C's self-price elasticity of demand? Show work. (b) ( What is Brand E's market share in Week 2? Show work.

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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7. A brand switching matrix for five brands in a Fast-Moving Consumer Goods (FMCG) category is show below for Weeks 1 and 2. Of the five brands, Brand C decreased its price by 1% from Week 1 to 2 whereas all the other brands kept their prices the same across the two weeks. Week 2 Purchase Brands A E A 399 190 90 52 80 195 199 55 47 31 Week 1 75 54 187 22 9. Purchase 54 44 23 110 22 E 82 26 12 27 65 (а) ( What is Brand C's self-price elasticity of demand? Show work. (b) ( What is Brand E's market share in Week 2? Show work.
Transcribed Image Text:7. A brand switching matrix for five brands in a Fast-Moving Consumer Goods (FMCG) category is show below for Weeks 1 and 2. Of the five brands, Brand C decreased its price by 1% from Week 1 to 2 whereas all the other brands kept their prices the same across the two weeks. Week 2 Purchase Brands A E A 399 190 90 52 80 195 199 55 47 31 Week 1 75 54 187 22 9. Purchase 54 44 23 110 22 E 82 26 12 27 65 (а) ( What is Brand C's self-price elasticity of demand? Show work. (b) ( What is Brand E's market share in Week 2? Show work.
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