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Quantitative Demand Analysis

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Quantitative Demand Analysis

Institution
Bedfordshire University
Course
International Business Management

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Chapter 3
Quantitative Demand Analys

, Learning Objectives

Apply Apply various elasticities of demand as a quantitative tool to forecast changes in revenues, prices, and/or units sold.




Illustrate Illustrate the relationship between the elasticity of demand and total revenues.




Discuss Discuss three factors that influence whether the demand for a given product is relatively elastic or inelastic.




Explain Explain the relationship between marginal revenue and the own price elasticity of demand.




Show Show how to determine elasticities from linear and log-linear demand functions.




Explain Explain how regression analysis may be used to estimate demand functions and how to interpret and use the output of a regre




© 2022 by McGraw-Hill Education. All Rights Reserved.

, The Elasticity Concept

Elasticity
– A measure of the responsiveness of one variable to changes in another variab
the percentage change in one variable that arises due to a given percentage
change in another variable.




© 2022 by McGraw-Hill Education. All Rights Reserved.
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International Business Management

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Uploaded on
January 23, 2023
Number of pages
28
Written in
2022/2023
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  • quantitative
  • quantitative demand analysis
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