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Illustrate and analyse the effect on total revenue

Assignment Help Business Economics
Reference no: EM132281677

Please read the article attached and answer the questions:

Article - Lemon shortage and high demand for fresh fruit sends prices skyrocketing by Jessica Schremmer

1. Based on the determinants of price elasticity of demand, is demand for lemons price elastic or inelastic, for a bakery that makes lemon tarts?

2. Based on your discussion of elasticity, Illustrate and analyse the effect on total revenue of the farmers in the lemon market when more trees are being planted.

Your assignment will also be assessed on how effective you can communicate with the reader, i.e. how well you have presented your arguments and ensured your analysis is logical and consistent.

Verified Expert

The paper is related to economics related concepts and principles.This paper also highlights the requirement of the new economics principles and concepts.This paper has been prepared in Microsoft Word Document.

Reference no: EM132281677

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Reviews

len2281677

4/12/2019 10:14:42 PM

Checklist: Provided clear definition of key economic terms. Included well-drawn diagram/s (where appropriate) that are clearly labelled (both axis and curve/s) for each question. Discussion and explanation of diagram is included in the answer. Answers provided are related to the topics that have been taught in ECON1008 course. Questions are answered individually and NOT in an essay form. Within the 500 word limit (+/- 10%). [NB: Anything <450 words would mean that you have not provided clear/detailed explanation of the concepts]. Check spelling and sentence structure. In-text referencing. Referencing list

len2281677

4/12/2019 10:14:08 PM

1. You will need to answer each question individually and not in a whole essay. 2. You will need to include well-labelled diagram/s in your answers. 3. Please remember to include a reference list in your essay. Failure to do so will result in possible plagiarism.

len2281677

4/12/2019 10:13:55 PM

This assignment is due on week 5 Thursday 18th (11.55 am). It is worth 10% of your overall assessment. The word limit is 500 words. You will be required to support your arguments with information from a range of sources. Failure to cite properly is evidence of academic misconduct and will result in marks being deducted.

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