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It will affect its sales. If the price goes up, depending upon what the product is the sales may go down. When the price goes down, the sales will probably go up.
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∙ 13y ago
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Total expenditures are determined by what?
Dividing the change in demand for the product by its change in price. e=(change in demand)%/(change in price)%
Explain how a change in price affects the demand for a product substitutes?
The change in price can affect the demand for that product. If the price increases people will look for cheaper substitutes.
What is price sensitive product?
A product that when it's price is changed results in a bigger change in demand
Change in market price?
Changes in the market price is determined by demand of a product. If consumers demand the product, then the price will increase.
What is product sensitivity?
A product that when it's price is changed results in a bigger change in demand
Conclusion of price elasticity of demand?
The conclusion of the price of elasticity of demand is the effect of price change based on the revenue it receives. It is based off the demand of the product and the price of the product.
What are the reasons for the change from logwood to mohogany?
price, demand for the product and the climate
What is the difference between elasticity and inelasticity of demand?
Inelasticity is a good that you will buy nomatter the price change. Elasticity is when the price of a product increases demand for the product will decrease.
What is cross price elasticity?
Cross price elasticity of demand measures the responsivenss of demand for a product to a change in the price of another good.
Why do prices of product and services change?
The term price is to demote the value of the things or service obtained the price may change for every object and service depending upon the quality and importance of the product or service we obtain.
What is cross price elasticity demand?
Cross price elasticity of demand measures the responsivenss of demand for a product to a change in the price of another good.
What is the difference between a sales volume variance and a sales price variance?
Volume is a change in how many products you sell Price is a change in how much you charge for the product
