Managerial Economics – Market Demand, economics homework help
Discussion 2.1: Demand
Read the articles by Dravone and Gandal; Schepp; and Craft on different products and how the demand for them has been estimated, either correctly or incorrectly. Now consider a product produced by a local firm. Explain how you might estimate the demand for this product. Be specific and include a description of the variables you would use and why you would use them. Be sure to discuss how you would collect the data on the variables you need. Defend your answer and cite your sources.
Dranove, D., & Gandal, N. (2003). The DVD-VS.-DIVX standard war: Empirical evidence of network effects and preannouncement effects.Journal Of Economics & Management Strategy, 12(3), 363-386. doi:10.1162/105864003322309518
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Discussion 2.2: Elasticity
Find an article on ProQuest of some other database from the NAU library that estimates either the elasticity of demand, the income elasticity, or the cross-price elasticity for a good or service. Interpret the meaning of the elasticity results that you found and discuss whether you agree with the results or not. Defend your answer and cite your sources.
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