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getsetgo, Master's Degree
Category: Single Problem
Satisfied Customers: 3219
Experience:  MBA from premium institute. 9+ years experience at executive level in Fortune-200 company.
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# explore the assumptions underlying price elasticity of demand

### Customer Question

explore the assumptions underlying price elasticity of demand and apply them to the above set of circumstances. do you believe the computation of elasticity is an indicator price sensitivity? explain.
Submitted: 1 year ago.
Category: Single Problem
Expert:  getsetgo replied 1 year ago.

Customer:

Hello

Customer:

Customer:

I am working on your question

Customer:

Hello

Customer:

Your question says: apply them to the above set of circumstances....

Customer:

What are those cirmustances?

JACUSTOMER-mxorgry3- :

JACUSTOMER-mxorgry3- :

In 2000 the market demand for personal computers was 129 million units an dthe average manufacturer's price was \$1922. The average gross was 20%. by 2003, prices dropped to an average of \$1708 and demand grew to \$161 million. Average gross margins slipped to 17% of sales.

JACUSTOMER-mxorgry3- :

i) calculate the annual % rate of the change in sales revenues and the total contribution over this three years period. explain your reasoning

Customer:

ok

JACUSTOMER-mxorgry3- :

2) the ques you had with elasticity comes next. Then evaluate the employment. I had a problem doing the calculation and not sure it is correct. could you give me the correct calculation for the elasticity. there the question has three parts. we could look at about 4-5 pages

Customer:

the nprice you are offering is low for 4-5 page answer

Customer:

I can do the calculation or you if you prefer to write the paper

JACUSTOMER-mxorgry3- :

do the calculation and a shorter page. would that be ok. I really just want to answer the question as the professor is looking for the correct answer not really a long lengthy paper.

Customer:

yes, that will be ok

Customer:

when do you need it?

JACUSTOMER-mxorgry3- :

shorten the pages to suit the money I pay. how much pages will I get?

Customer:

no problem. let me write. I do not shorten according to money you pay.I will try to make it long enough so that you can add something and make it suitable

JACUSTOMER-mxorgry3- :

the calculation is important. It leads to the other questions. i really appreciate your help. this is my first timeon the website. I would like it to work for me. I have ten more month in university. Thank you for your support and effort.

JACUSTOMER-mxorgry3- :

Looking forward to a good paper. Good bye until later. what is you name, I am sharon

Customer:

You can call meCustomer/p>

Customer:

Its my pleasure Sharon to work with you. KI will try my level best to serve you

JACUSTOMER-mxorgry3- :

thank you.

getsetgo, Master's Degree
Category: Single Problem
Satisfied Customers: 3219
Experience: MBA from premium institute. 9+ years experience at executive level in Fortune-200 company.
Expert:  getsetgo replied 1 year ago.
Hello,
getsetgo, Master's Degree
Category: Single Problem
Satisfied Customers: 3219
Experience: MBA from premium institute. 9+ years experience at executive level in Fortune-200 company.
Customer: replied 1 year ago.

Thank you for the answwers. I have not received the answer for question 2).Evaluate the employment of profit-oriented marketing objectives from a moral/ethical perspective.

Customer: replied 1 year ago.

I have receieved both answers. Thank you.

sharon

Expert:  getsetgo replied 1 year ago.
Thanks for accepting the answer. I posted the answer of other question also:

Customer: replied 1 year ago.
 Year Demand Price Total Margin Profit (in million Revenue (in million) units) (in million) ____________________________________________________________________ 2000 129 \$1,922 \$247,938 20% 49587.6 2003 161 \$1,708 \$274,988 17% 46747.96 Renvue 0.035118847 Profit -0.019464794 Price Elasticity of Demand = -1.871737029

Please explain the formulae for me.

When I put in the formulae that is what I get.

How do I get it to be 3.51%, -1.95%, instead of 0.035118847 and 0.010464794. Is it because I did not put on the three zeros for the million '000'.

I am not getting the dollar sign (\$) in the profit column. Should I type it in after the formulae is calculated.

What does this sign means ^ ?

I understand the topics better now .

Sharon

Expert:  getsetgo replied 1 year ago.
This is cagr formula as explained in word file. When you convert .03 in percentage you multiply by 100. You can format cell and make data type percentage. For getting \$ sign choose data type currency. Did you download other answer that i answered 2 days ago?
getsetgo, Master's Degree
Category: Single Problem
Satisfied Customers: 3219
Experience: MBA from premium institute. 9+ years experience at executive level in Fortune-200 company.
Customer: replied 1 year ago.

I understand the explanation an dwill try it.

Yes I see the answers you sent me.

Thank you for your quick response.

Customer: replied 1 year ago.

If I have asked for clarification will I have to pay again?

Expert:  getsetgo replied 1 year ago.
No, you do not have to pay again. You may please ask as many clarifications as you wish. By mistake I had hit answer button when I posted clarification. I will keep it in mind and post the clarifications as info request so that no Accept button appears at your end.

Regarding other question that I answered, please note that I will get paid only after you click on Accept button. That answer is awaiting your acceptance.41058.2118736111

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