Economics Homework Help. ECO 201 Southern New Hampshire University Module 3 Competitive Markets Discussion
I need assistance with the below assignment:
ECO-201-X6482 Microeconomics 21EW6
3-2 Simulation Discussion: Competitive Markets
In your responses, comment on at least two posts (attached) from your peers and share an example of a company that experienced a change in revenue as the result of a change in the price of the good or service they provided. After reading your peers’ posts, explain which determinants of price elasticity of demand could be the cause of the change in demand.
Back Story:
Prices are the driving force behind every buying and selling decision in a market economy. Prices are determined by the supply and demand equilibrium and are influenced by the price elasticity of demand and supply of goods and services.