Highest price elasticity of demand

Assignment Help Business Management
Reference no: EM132267203

Looking at the purchase or order demand of following:

Buying Nike running shoes;

Purchasing gasoline to go to work and drive for fun

Ordering X-ray films for check-up

ordering a biopsy with suspicion of having cancer

1. Which one would have the lowest and which one would have the highest price elasticity of demand?

2. Which one would have the lowest and which one would have the highest income elasticity of demand?

3. Which product demand hay have the unit income elasticity of demand?

Reference no: EM132267203

Questions Cloud

Federal reserve tends to be used as excess reserves : In light of recent trends, what can be done when the money created by the Federal Reserve tends to be used as excess reserves rather than for making loans?
How quickly the leed features pay off : Provide a graphical solution to determine how quickly the LEED features pay off. Please include a cash flow diagram if possible.
The soft drink market in united states is quite competitive : The soft drink market in the United States is quite competitive; the major market shares are held by Coca-Cola Company and Pepsi-Cola Company.
What impact has sox had on the compliance environment : What pprecipitated its implementation and what are some of the benefits or drawbacks that organizations have seen do to its enactment.
Highest price elasticity of demand : 1. Which one would have the lowest and which one would have the highest price elasticity of demand?
How is an application layer firewall different : How is an application layer firewall different from a packet-filtering firewall? What is a VPN? Why is it becoming more widely used?
Revenue maximization and profit maximization : If the demand curve of a company is P=$36-$2Q and fixed cost is $10, variable cost is 5Q+0.5Q2
How may anthropology be applied to address some problems : How may anthropology be applied to address some problems of the modern world, or Option 2) How may anthropology be applied in your career field
Seven deadly sins-reflections on donor failings : According to Nancy Birdsall and her article "Seven Deadly Sins: Reflections on Donor Failings," what can it be done to get our government to address

Reviews

Write a Review

Business Management Questions & Answers

  Impact on leather substitutes

What is the impact on leather substitutes when the price of leather goods increase?

  Determining the significant excess capacity

1. Briefly explain why firms operating with significant excess capacity are more likely to instigate price wars. 2. It is often argued that price wars may be more likely to occur during low-demand periods than high-demand periods.

  Medical waste management company for years

Without using any outside sources, what are some recommendations for using diversity as a strength in reference to organizational behavior?

  Describing a project that has fallen

Locate an article from a journal, magazine, or news site describing a project that has fallen seriously behind schedule.

  Good idea for altitude online to maintain records

Why do you think it is a good idea for Altitude Online to maintain records of all advertising projects?

  How would you define an ethical business culture

Why do you think that is? How would you define an ethical business culture?

  Big buying on black friday and cyber monday

Black Friday has long been a U.S. shopping tradition. It's named for the day after Thanksgiving (fourth Thursday in November), when retail businesses

  Letter to sc problem solver assignment sheet

You will write a letter to a public official in South Carolina, a letter that needs to meet all of the content and formatting expectations for a formal letter.

  Present value of annuity

Present value of an annuity due: You wrote a piece of software that does a better job of allowing computers to network than any other program designed for this purpose.

  How do svm work

How do Svm work? What are advantages and disadvantages of using SVM as compared to ANN in better managing customer retention

  Describe the boundaries faced by the team

Describe the boundaries faced by the team and discuss what you could do (or could have done) to help span the boundaries to facilitate team performance.

  Treating persons who meet the criteria for substance abuse

Compare the 4-stage recovery model to the harm reduction model for treating persons who meet the criteria for substance abuse. What are the strengths and the weaknesses of each model?

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd