Assignment:
Please provide 200 to 400 word response to the following question. Make sure you start each sub-question in a new paragraph. Follow citation rules as closely as possible.
What is the difference between a movement along and shift of the demand curve?
What is the definition of price elasticity of demand? How does price elasticity of demand affect a firm's pricing decisions? How does the availability of substitutes affect the price elasticity of demand? Provide examples
Please provide 200 to 300 word response to the following questions.
What is economics? What role does economics play in your personal and organizational decisions? Provide an example of the role of economics in decision making.
What is meant by marginal analysis? Provide an example of when you used marginal decision in your life.