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The elasticity of demand for a product

        Pick a product or service that you consume on a regular basis and speculate on what the elasticity of demand might be for that product. What might be the income elasticity of demand for that product? Explain and support why you think the product has the...

Consumer, Produces and Total Surplus

        Consumer Surplus. Producer Surplus. Total Surplus. How are these concepts used to explain welfare economics? How are these concepts used to explain the benefits of trade? How are these concepts used to explain why restricting trade reduces societal wellbeing?...

Competitive analysis

1. Choose two companies that could be considered competitors of your client that you are collaborating with this term and discuss why they are competitors. The companies should be of similar size and have similar product/service offerings. 2. Research each of the two...
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