Wednesday, 23 September 2015

ECO 550 Assignment 1: Demand Estimation

Write a four to six (4-6) page paper in which you:

Compute the elasticities for each independent variable. Note: Write down all of your calculations.
Determine the implications for each of the computed elasticities for the business in terms of short-term and long-term pricing strategies. Provide a rationale in which you cite your results.
Recommend whether you believe that this firm should or should not cut its price to increase its market share. Provide support for your recommendation.
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