Discussion question 1 (10marks)Considering crude oil as a product in the market, discuss its elasticity. You need to consider type of good, price elasticity of demand and supply, and the time factor. Your answers must company two diagrams, showing elasticity an

| December 7, 2018

Discussion question 1 (10marks)Considering crude oil as a product in the market, discuss its elasticity. You need to consider type of good, price elasticity of demand and supply, and the time factor. Your answers must company two diagrams, showing elasticity and inelasticity. This also needs to take into account the short run and the long run factor.Discussion question 2 (10 marks)Choose a product (e.g. ice cream) and discuss binding price ceiling and binding price floor with an example. Your an …

Get a 30 % discount on an order above $ 50
Use the following coupon code:
EASTER
Order your paper today and get a 30% discountOrder Now
Positive SSL