Select a product good or service for which you believe, Ask an Expert

Management Studies

Select a product, good, or service for which you believe there is, if not perfect, close to perfect price inelasticity of demand. Refer back to course materials for clarification of what price inelasticity means. Research the product, good, or service so that you have a general understanding of the market, customers, suppliers, and competition. Consult at least one reliable, credible source and be sure to include a citation so we can see where you got your information. Discuss the following questions(s) with regard to the product, good, or service. Remember, you are NOT to turn in a numbered list of responses. This is a written paper, so your responses should form a cohesive set of paragraphs, with appropriate transitions, and so on. Describe in 50 words or less the product, good, or service that you chose. Why did you choose this product, good, or service? Why do you believe the demand is inelastic with regard to price? What factors are at work here? (Hint: Think back to the external factors you read about in module 1.) What, if anything, could change and make the product, good, or service price elastic?

View complete question

Operation Management, Management Studies

Category:- Operation Management
Reference No.:- M92492906

Have any Question?Write your Review or question?

Related Questions in Operation Management

For your final presentation you will play the role of a

For your final presentation, you will play the role of a Project Management Team at a well-known company about to start a major project. You will be responsible for the following items: Choose a well-known company and a ...

Business lawfor years courts employers and employees have

Business Law: For years, courts, employers, and employees have struggled with the issue of employee drug testing. Employers want their employees to be drug free, whereas employees do not want to submit to an invasive and ...

1 ticketmaster now part of live nation entertainment

1. Ticketmaster, now part of Live Nation Entertainment, responded to the threat of the secondary ticket resale market (by firms like Craigslist and StubHub) by launching its own ticket marketplace. What impact, if any, w ...

Complete the following assignment in a paper of

Complete the following assignment in a paper of approximately 750 words Create a job description for the role of supervisor of a customer service call center. Include the following sections: Basic role purpose: What are ...

Northwoods backpackersbob and carol packer operate a

Northwoods Backpackers Bob and Carol Packer operate a successful outdoor wear store in Vermont called Northwoods Backpackers. They stock mostly cold-weather outdoor items such as hiking and backpacking clothes, gear, and ...

Categorize those people in the class who you believe would

Categorize those people in the class who you believe would be well-suited for starting a business and managing initial growth but would be less effective at conducting the professional management tasks when the firm beca ...

1 describe three ways our perception of self and others

1. Describe three ways our perception of self and others affects our perception of information. 2. What is the definition of an operations and supply chain strategy? 3. For case study 4 in the Strategic Management Book: ...

1 what are firm strategy options in the drone industry and

1. What are firm strategy options in the drone industry and how are these firm strategies likely to affect the emergence of the drone industry? 2. Suppose that uou manage an airline reservation system and want to improve ...

Assignmentovervieweconomic practices for managers this

Assignment Overview Economic Practices for Managers This course addresses the fundamental economic principles of decision making, including opportunity costs, factors of production, and competitive and comparative advant ...

Think about the practical skills you can acquire from a

Think about the practical skills you can acquire from a research and design class. How do you think the skills acquired in this class will help you in other areas of your life? Why is it important for members of our soci ...

4,153,160 Questions Asked
13,132 Experts
2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Recent Questions

Ask Operation Management Expert