Prepare a 750-1,050-word paper analyzing the elasticity of demand; income elasticity; and cost structure of your product/service (previously select). Address the following topics in your analysis:
- Use fictitious data to illustrate the demand elasticity and income elasticity and interpret the coefficients of elasticity.
- What is the relationship between demand elasticity and the total revenue of your organization or firm?
- i have to answer #5 … some one send it before but it was not good
- The nature and cost of materials used; breakdown of fixed; variable; total costs; average costs; marginal cost (use table from class activity).
- The role of technology in producing the product or service
- The role of Productivity (consider the law of diminishing marginal productivity).
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