Professional Writers
We assemble our team by selectively choosing highly skilled writers, each boasting specialized knowledge in specific subject areas and a robust background in academic writing
Order For Similar Custom Papers & Assignment Help Services
Fill the order form details - writing instructions guides, and get your paper done.
Posted: April 20th, 2022
Need help with the Principles of Microeconomics :Environmental Issues and Elasticity
Question description
Assignment DetailsDue Sunday 11-29-15Deliverable Length: 800-1000 words You just opened a flower shop and are trying to understand pricing issues. You were told that elasticities are very important in determining prices and what products to supply, so you decide to investigate this concept.You call your friend, an economics professor, and ask, “What is the price elasticity of demand? What determines it? What is elastic and inelastic demand?”To really understand it, compute the following price elasticities of demand:The price of a laptop increases by 20% and there is a 40% drop in the quantity demanded.The price of a pack of cigarettes increases by 10% and there is a 5% drop in the quantity demanded.Of the above examples, which is more elastic, and which is the least elastic? Why? Answer the following questions:Why is elasticity an important concept for a business? Bridge tollsBeachfront propertiesGourmet coffeeGasolineCell phonesNow that you are an expert on elasticities, what do you think would be the best time of year to raise prices of flowers, and why? What do you think the elasticities are in the flower business?Provide minimum of 2 References with websites, in addition must have in-text citations. You are required to have this things in Ace homework tutors – APA format or points will be deducted!
Why choose us
You Want Quality and That’s What We Deliver
Discounted Prices
Our service is committed to delivering the finest writers at the most competitive rates, ensuring that affordability is balanced with uncompromising quality. Our pricing strategy is designed to be both fair and reasonable, standing out favorably against other writing services in the market.
AI & Plagiarism-Free
Rest assured, you'll never receive a product tainted by plagiarism or AI-generated content. Each paper is research-written by human writers, followed by a rigorous scanning process of the final draft before it's delivered to you, ensuring the content is entirely original and maintaining our unwavering commitment to providing plagiarism-free work.
How it works
When you decide to place an order with Nurscola, here is what happens: