Project #80852 - Managerial Economics

Answer the questions below. No more than two quality paragraphs. Quality, not quantity. If possible, please provide 1 reference (not r

1. Why do you think it is important for managers to understand the mechanics of supply and demand both in the short run and in the long run? Give examples of companies whose business was either helped or hurt by changes in supply and demand in the markets in which they were competing.

2.

Briefly list and elaborate on the factors that will be affecting the demand for the following products in the next several years. Also include in your discussion the factors will cause the demand to increase or decrease.

a. Products purchased on the internet.

b. Fax machines.

c. Gasoline

3.

If you are a manager and able to determine the price for your product (not considering market competition level).  If your purpose is to maximize revenue.  How price elasiticty of demand will affect your decision? Please give an example of product. 

Subject Business
Due By (Pacific Time) 09/04/2015 12:00 am
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