What elasticity of demand should they aim for why

Assignment Help Business Economics

Reference no: EM131096696

The "Vintage Sisters" collect old junk, fix it up, and sell it at craft fairs as a hobby. All of their costs are covered by their poor father who lets them use his shop, tools, and paint for free. When pricing their stuff, what elasticity of demand should they aim for Why

Reference no: EM131096696

Questions Cloud

Level of quality and consistency : Briefly describe a product or service. Where is it in the product development life cycle? What recommendations do you have for improving the offering to fit a target market's needs? Be sure to consider the following:

Diseconomies of scale of company production : Why is marginal analysis so important to consider when conducting any sort of analysis on the economies and diseconomies of scale of a company's production. How can one identify this to be the case?

Should dna testing become standard for effecting positive id : Should DNA testing become the standard for effecting positive ID of decedents? Why or why not? What are some of the ethical implications for using DNA testing for positive ID? What would be the best source to obtain a DNA sample from: (1) a fresh ..

Providing for stepwise implementation and testing : The model of compilation we introduced is essentially batch-oriented. In particular, it assumes that an entire source program has been written and that the program will be fully compiled before the programmer can execute the program or make any ch..

What elasticity of demand should they aim for why : The "Vintage Sisters" collect old junk, fix it up, and sell it at craft fairs as a hobby. All of their costs are covered by their poor father who lets them use his shop, tools, and paint for free. When pricing their stuff, what elasticity of demand s..

Currently the marginal product of labor : You own a pizza shop and you use both labor and capital to make your pizzas. Currently the marginal product of labor is 5 pizzas per hour, while the marginal product of you capital is 2 pizzas per hour. You pay your labour $10 per hour, and your capi..

Describe senge five disciplines : The learning organization is affected by both the individual and the organizational climate. In a two- to three-page paper (excluding the title and reference pages), describe Senge's five disciplines and the characteristics of an organizational cl..

Effects of inflation when preparing cost estimates : Estimating cost behavior well into the future can be challenging when dealing with items that are highly reactive to various factors. Suggest 2 ways that one can compensate for the effects of inflation when preparing cost estimates and why these are ..

Result of government policy : Explain five benefits that may be realized by a country as a result of government policy to relocate industries in rural areas.

User Account

All Pages