Completed quickly and followed instructions given. Grammar, spelling, etc. was all good as well. Thank you so much! Will hire in the future.
You are the director of pricing for WalMart, your head economist has informed you that after extensive econometric studies, she has determined that your price elasticity of demand for grocery goods is – 1.1. She also informs you that she believes that this demand curve is linear and fairly stable. As a result of this information you will advise the board of directors that Wal-Mart policy of continued price reductions for the next year or so will lead to
a. Total revenues decreasing in the short run and the long run if demand remains stable.
b. Total revenues increasing regardless of the amount that you cut prices because demand is stable.
c. Total revenues increasing in the long run as the demand curve shifts to the left.
d. Your total revenues could increase or decrease depending on where the price decrease puts you on your demand curve and the value of the elasticity coefficient at that point assuming the demand curve does not shift and remains stable.
e. None of the above
Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.
You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.Read more
Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.Read more
Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.Read more
Your email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.Read more
By sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.Read more