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QUESTION 2 A) Independent of #1 above, Atomic Rooster sets a unit sales price of $10 and customers purchase 1,000 copies. Then they raise the price to $14 and customers purchase 900 copies. Calculate the elasticity of demand (show your work), then explain what it means and whether or not this change is compatible with their goal of maximizing revenue. B) Starting with the same $10 unit sales price and sales of 1,000 units, say the band instead drops the price to $9 and sales rise to 1,400 units. Calculate the elasticity of demand (show your work), then explain what it means and whether or not this change is compatible with their goal of maximizing revenue. QUESTION #3 A) Using a good of your choice, describe how you would create an inelastic demand for this. B) Say you succeed in creating inelastic demand in A. How would your strategies for profit maximization change if the demand suddenly became unitary (neither elastic or inelastic)?

Date Posted: 03/11/2017
Category: Finance
Due Date: 03/11/2017
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