Consider the Price Elasticity of Demand. Explain how an understanding of this, in conjunction with other economics concepts, can help a business improve its performance (e.g. increase sales revenue).
The main part of your analysis will be based on which product? Which company is the main producer of this product? Do you believe that this product is elastic, inelastic, or unit elastic?
➢ Combine theory with practical examples.
o This paper is not a summary of economics concepts and research. This is an
analysis.
o Your analysis should be of one product and/or company.
o Your examples must reference real data. Examples should not be
hypothetical.
o Please stay on topic.
➢ In addition to using and citing the textbook, please use at least one additional reference source (a respected/reputable website, as an example, would be fine). o Sources such as blogs, social media sites, and Wikipedia are not viewed as
respected/reputable.
➢ Please cite when necessary.
➢ You will receive a confirmation email after submitting your assignment. Please
save this email for your records.
➢ Your paper should list your full name have a bibliography (list of works cited).
➢ Your assignment should have an introduction, body, and conclusion.
➢ Being that this will be submitted via Google forms, formatting may be lost and
images cannot be pasted. You will not be penalized for this.
➢ Your grade will be based on the overall quality of your paper (e.g. level of
effort, spelling, grammar, organization, formatting, etc.).
➢ Although words/pages will not be counted formally, most papers will probably
be the equivalent of two (2) to four (4) pages.
➢ This is an individual assignment, and your work must be original.
➢ You may not submit a paper that was/is used previously or in another class.