assignment Take a brand study its price elasticity of demand and relate it to revenue. Say how the REVENUE of the product increases or decreases because of the ELASTICITY. The elasticity of demand measures the responsiveness of the quantity demanded of a good‚ to change in its price‚ price of other goods and change in consumer’s income. Accordingly elasticity of demand is of three types: Price elasticity of demand Income elasticity of demand Cross elasticity of demand Price elasticity of demand: it
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Price effect: The price change effect on consumption can be broken down into two parts depending upon the change relative in pricing of products and income. The first one is called substitution effect wherein price change of a product leads to change in consumption‚ here the income remains constant. The second is the income effct wherein the relative income of people changes which leads to a change in the purchasing power‚ here the price is considered constant. * prices change >> income
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AS Economics Functions of the Price Mechanism tutor2u™(www.tutor2u.net) is the leading free online resource for Economics‚ Business Studies‚ ICT and Politics. Don’t forget to visit our discussion boards too as part of your Economics revision. www.XtremePapers.net tutor2u™ Supporting Teachers: Inspiring Students Page 2 of 5 Functions of the Price Mechanism Revision Focus on the Functions of the Price Mechanism AS Syllabus Requirements: How Markets and Prices Allocate Resources Candidates should
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The Benefits of Green Tea Do you know the benefits of green tea? Certainly‚ the answer is “yes”. Nowadays green tea is very popular not only in Thailand but also around the world because it has variety of taste‚ for example‚ lemon honey‚ Japanese rice and original tastes. Moreover‚ it also has a lot of health benefits‚ for example‚ it controls the weight naturally‚ resist the oxidation‚ and it helps in body detoxification. The first benefit of green tea is it helps to control body weight naturally
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Japanese Tea Ceremony are harmony‚ respect‚ purity‚ and tranquility‚ which combine with what might be called the Zen aesthetic of emptiness to give the Tea Ceremony its distinctive feel. In Zen‚ everything which is not necessary is left out; this is as true of the mind as it is as of the physical setting. The spirit of austere simplicity pervades the Tea Ceremony. Each utensil has a specific purpose‚ and only those utensils which are necessary for the Ceremony are brought into the tea room. Nothing
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Price-to-earnings ratio (P/E) is often used for assessing the company’s stock price. P/E is determined by first calculating the earnings per shares (EPS)‚ which is the post-tax profits divides by the number of shares (Figure 1). Trailing P/E is equal to current market share price divided by trailing earnings per share for the past 12 months‚ whereas forward P/E is equal to current share price divided by expected earnings per shares for the next 12 months or next full-year fiscal period (http://www
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320. As of 2006‚ the average manufacture’s suggested retail price for a 330ci was $37‚600 as compared to $45‚750 for a CLK 320. Gas mileage for the 330ci is 30 mpg on the highway and 20 mpg in the city as compared to 28 mpg on the highway and 19 mpg in the city for the CLK 320. Discussion 1. Suppose Mercedes is concerned that dealer price of the CLK 320 are not consistent and that even though the average price is $45‚750‚ actual prices are normally distributed with a standard deviation of $2‚981
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An experiment to investigate the factors which affect Resistance in a wire What is resistance? A potential difference (V) applied across a wire of length (l)‚ there is in the conductor‚ an electric field (E). In this electric field the free electrons are not however under continuous acceleration (Ee/m). This is because they repeatedly collide with the moderately massive vibrating atoms losing their kinetic energy. The vibrating atoms having gained this kinetic energy now vibrate more. The resulting
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There are many social factors that can affect your performance‚ for example‚ A coach can affect your performance‚ every coach coaches in their own style and technique and some styles may benefit some performers more than others. Therefore‚ it is important to find a coach that works best for you.Finding a coach that suits you better could mean a huge improvement in your performance. Another social factor that can affect your performance are friends‚ friends can also affect your performance as you
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low price. The IKEA business idea is: ‘We shall offer a wide range of well-designed‚ functional home furnishing products at prices so low that as many people as possible will be able to afford them.’ IKEA targets price-conscious young couples and families who are willing and able to transport and assemble furniture kits. The low-price strategy‚ seeks to achieve a lower price than competitors while maintaining similar perceived product or service benefits to those offered by competitors‚ price is not
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