Demand function specifies other factors that management will often consider, including the design and packaging of products, the amount and distribution of the firm’s advertising budget, the size of the sales force, promotional expenditures, the time period of adjustment for any price changes, and taxes or subsidies. For this discussion forum, consider your favorite consumer product (e.g. cell phone, car, cereal, restaurant, hair gel, etc.) and describe the variables that might be part of the demand function (i.e. substitute good, complementary good, income level, advertisement, consumer preference, etc.) for this product. How would you describe the elasticity of demand for this product – is it highly or somewhat elastic or inelastic? Why?
It is our mission to promote academic success by providing students with superior research and writing, produced by exceptional writers and editors.
Our academic writers have all levels of degrees so that we can accommodate all academic levels. If you are a high school student, you will receive a personally assigned writer with at least a Bachelor’s degree in the subject field.
For any questions, feedback, or comments, we have an ethical customer support team that is always waiting on the line for your inquiries.
Call us: +1 (857)-330-4622