Draw the demand and supply curves

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Reference no: EM132862208

Question 1. Would the demand for the Wii console be relatively inelastic or relatively elastic in 2006 through 2007? State why.

Question 2. Would the supply for the Wii console be relatively inelastic or relatively elastic in 2006 through 2007? State why.

Question 3. Draw the demand and supply curves as you have described them.

Question 4. Was the severe shortage for over two years an old marketing ploy called intentional scarcity, in which a company purposely keeps its hot product in short supply to build buzz? Or was it simply bad planning on Nintendo's part?Explain your answer and include some outside research to support your conclusion.

Question 5. Can you suggest a reason why Nintendo dropped the price of the Wii Console in late 2009? How would you expect this to affect demand and revenues?

Question 6. Elasticity of supply and demand can change overtime.In 2009, would you describe demandfor the Wii aselastic or inelastic?What about supply?Provide an explanation for your answers.

Question 7. Draw the demand and supply curves for the Nintendo Wii in 2009 as you have described in number 6.

Attachment:- MicroElasticity Case Study.rar

Reference no: EM132862208

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