Elasticity
In this part of your paper, address the elasticity of Apple Inc. the company which you have selected. Conduct research for your company and prepare an essay that addresses the following.
- How elastic is the product and/or service?
- If the company needed to increase sales by 40%, what would need to be done (in terms of elasticity)?
- Explain how this would affect both supply and demand.
- Could this affect substitute or complementary products or services? Explain.
Remember to cite your sources in APA format.
APA Format; Title Page, In text citations, Spelling, Grammar, Reference Page, Academic Resources
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Introduction
Elasticity can be defined as change in a variable which are brought about by changes in another variable. In economics or business elasticity occurs when consumers’ expenditure changes as a result of changes in their income. For example, an increase in income will imply that the consumers’ consumption will increase, and a decrease will……………….
APA
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