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Learning
Team Assignment: Scenario Analysis
- Review the
University of Phoenix Material – Will Bury’s Price Elasticity Scenario
introduced in Week One. You may also use information from your own
organization. If you use your own organization, get approval from your
instructor before proceeding. Prepare a 350- to 700-word report
where you explain the following concepts in the context of the Will Bury
scenario:
o The effect on revenue when there is a change in
price (assuming competitors do not follow)
o Estimate the elasticity of demand in your scenario
using either the arc method of elasticity or base your estimate on the number
and closeness of substitutes (including foreign substitutes)
o Justify your estimate of the elasticity
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