Discussion Post
Part I
i. Provide examples of a variable that affect the supply curve and a variable that affects the demand curve.
ii. Think of a product or service that use in your everyday life or workplace. Describe how the supply or demand of this product might be changed.
Part II
Movie theaters, airlines, and many other businesses like to charge customers different prices based on time of the day, age, and purchase dates. Why?
Provide an example of a price discrimination for a good or service that you thought it to unfair. Do you still believe that the discrimination is unjustifiable?
Part III
For this discussion, come up with an example of diminishing marginal utility you've encountered recently.
Part IV
Complete the following simulation and answer the questions below.
i. What factors affected demand for your product?
ii. What pricing strategies did you use?
iii. Describe your most successful day and your least successful? Why were they successful or unsuccessful?
iv. What was your total # of cups sold?
The response should include a reference list. Using double-space, Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.