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What is the price elasticity of demand facing the services

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Reference no: EM132425307

Project Instruction:

  1. Set up hypothetical Firm (Name, type of business etc. with business Logo on front page)
  2. Identify main goal/goals of your firm/business (4 dependent variable)
  3. Identify key variables influencing your business' objective (5 independent variables)
  4. Outline projected correlations between your dependent and independent variables
  5. Identify potential extraneous variables if any that might impact your business
  6. Use deductive or induction reasoning to outline 5 advertising statements for your business

Question : Identify conditions that should prevail for your firm to at equilibrium in the market place; under what condition will your firm incur losses?

Question : What is the price elasticity of demand facing the services or products of your business? Using this information, explain the pricing strategy for your business.

Question : Explain why it is important to understand consumer behavior when establishing a business?

Reference no: EM132425307

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