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Rating:
Date: 19/11/2017
Feedback Given By: taimifonstsanchez
Feedback Comment: Great work
Project Details
Project Status: Completed
This work has been completed by: harvardtutor
Total payment made for this project was: $30.00
Project Summary: Question #1: Using a product of your choice along with prices and quantities you select, create an original tutorial that will teach somebody how to draw a supply curve, a demand curve, and determine the equilibrium point. Also explain the factors that could cause the supply and demand curves to shift up or down. Question #2: A) Cafe Hola in Fernandina Beach sells cortadito coffee drinks for $3 each and customers buy 350 each day. They raise the price to $4 and sell 120 each day. Calculate the elasticity of demand (show calculations) and explain if they should maintain the new price or change it. B) The Amelia Tavern sells their Beachside Bilge Beer for $5 a pint and sells 150 each day. They lower the price to $4.50 and sell 160 pints. Calculate the elasticity of demand (show calculations) and explain if they should maintain the new price or change it.