Explain the reason you entered the market to secure

Reference no: EM133714878

Question: Economics for Business and Finance a. Explain the reason you entered the market to secure this product or service (demand side). (250 words) b. Discuss at least 2 factors that might have change the demand for this product, then explain how equilibrium point change as the result of change in the demand would. Here you must provide at least 2 graphs showing the changes in market equilibrium. (500 words) c. Discuss at least 2 factors that have an impact on supply of this product, then explain how equilibrium point change as the result of change in the supply would. Here you must provide at least 2 graphs showing the changes in market equilibrium. (500 words) d. Explain factors that make a product elastic or inelastic in general terms. Then assess whether your product is likely to be price elastic or inelastic at the current market price (demand). Describe the likely impact on the supplying company's revenue following an increase in the price they charge (ceteris paribus) (250 words)

Reference no: EM133714878

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