Explain the product and geographic boundaries

Assignment Help Macroeconomics

Reference no: EM132246348 , Length: 5

Assignment - Write a paper based on the requirements.

Begin by carefully explaining what you are analyzing - quantity demanded of X in geographic market Y. Explain the product and geographic boundaries, as this will affect what you include as arguments in the demand equation. All you need to do is to specify the variables that would be included in the equation; you don't need to specify a particular equation. That is:

1. Explain what you are analyzing (quantity demanded of product X, in geographic area Y)

2. Explain all the factors that could affect this quantity demanded. These must be, in principle, measurable (i.e., it is possible to obtain data on them).

3. For each factor in (2), explain qualitatively how and why it will affect the quantity demanded. For example, the price of substitute Z - has a direct effect (increase in price of substitute increases quantity demanded because buyers switch from relatively more expensive substitute to this product).

Carefully analyze the demand for one of your organization's/firm's/industry's products.

Begin by briefly explaining the industry or business, and the product. Carefully define the market with respect to geographic and product boundaries.

Specify the demand function (i.e., the quantity demanded of the product per period depends on the following variables: ...) Determine what you believe to be the most important demand determinants.

Discuss each of the important demand determinants. Explain why it is important, how (in principle) it could be measured, and the qualitative effect (direct or inverse). Then, if possible, discuss the relevant elasticities. Provide any empirical evidence that you can.

Reference no: EM132246348

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len2246348

3/1/2019 9:40:50 PM

Please revise my paper based on the requirement. I am done with my own draft. Carefully analyze the demand for one of your organization’s/firm’s/industry’s products. Provide any empirical evidence that you can. (If you cannot, that is okay.) 3/10 for specification of the demand function (for including the most important determinants, and for defining the market well) 3/10 for discussion, and (if possible) for evidence. No more than 5 pages (double space, 12 point Times Roman font, 1 inch margins, 8 & 1/2 by 11-inch paper) excluding appendices and any charts or data.

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