Illustrate how change in consumer utility affects the price

Assignment : Utility, Elasticity, and Demand

For this assignment, suppose that you are in charge of designing a product campaign for a new shampoo.

Assignment Guidelines, Part 1

Prepare a 2-3 page paper in Microsoft Word to address the following:

• Describe the ultimate goal of the product campaign for the new shampoo.

• Discuss your methods for achieving this goal.

• Identify the components of marketing, pricing, and distribution for the campaign.

• Include in your response a discussion and analysis of the concepts of utility, price elasticity, and demand.

Assignment Guidelines, Part 2

Using Microsoft Excel:

• Prepare a graph which illustrates the desired effect of the marketing campaign as a shift in market equilibrium with reference to price and quantity adjustments.

• Prepare another graph to illustrate how a change in consumer utility affects the price elasticity of demand.

• Copy and paste or import these graphs into the MS Word document you prepared in Part 1 of this assignment.

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Microeconomics: Illustrate how change in consumer utility affects the price
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