ELASTICITY OF DEMAND Scenario 3: I choose Almarai company a. If your company's product has many substitutes in the market, what happens to the elasticity of your product? If your company's product has few substitutes in the market, what happens to the elasticity of your product? If your company's product has no substitutes in the market, what happens to the elasticity of your product. b. Use a numerical data of price and demand to show the price elasticity of your good. c. Draw and show this effect of change in price on the demand for your company's product with the help of a demand curve. By excel

ELASTICITY OF DEMAND Scenario 3: I choose Almarai company a. If your company's product has many substitutes in the market, what happens to the elasticity of your product? If your company's product has few substitutes in the market, what happens to the elasticity of your product? If your company's product has no substitutes in the market, what happens to the elasticity of your product. b. Use a numerical data of price and demand to show the price elasticity of your good. c. Draw and show this effect of change in price on the demand for your company's product with the help of a demand curve. By excel

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

ELASTICITY OF DEMAND
Scenario 3:
I choose Almarai company
a. If your company's product has many substitutes in the market, what happens to the elasticity of
your product? If your company's product has few substitutes in the market, what happens to the
elasticity of your product? If your company's product has no substitutes in the market, what
happens to the elasticity of your product.
b. Use a numerical data of price and demand to show the price elasticity of your good.
c. Draw and show this effect of change in price on the demand for your company's product with the
help of a demand curve. By excel

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