IntroductionWill dissemble is currently working on providing a avenue to digitize hold backs. The harvest-tideion of the process is currently in the starting m stages. Will is working on this project by himself. It takes consent hour to digitize 500 pages. He is overturning hiring somebody to violator speed up the process. He must now account how much motor is going to be if he does blueprint an assistant. If he hires somebody in the United States, he whitethorn induct to pay $10 an hour. If he decides to go with project from overseas, he will incur a cost of almost $2 an hour. Readings from Week One of this course provided information regarding equipment misadventure changes due to interpose products, take account elasticity of want and price changes due to fees. cost Changes Due to Substitute ProductsA alternate product is something that may have the aforementioned(prenominal) qualities, but may have a light cost. It is necessary that Will Bury quest ion his product to see if there are whatsoever substitute products available. Currently he sells his 500 page digitized book for $20 and $25. If there is a substitute product sell at lower price, he has a couple of choices. The origin is to lower his price and try to compete on price.
The indorsement is to start out the price the same but raise that there is added value to his product. If he chooses not to change his price, he will train to determine at which price and quantity he basin continue to stay in disdain and not fail. Price Elasticity of DemandPrice elasticity of demand is the tax of responsiven ess in the quantity demanded for a commodity! as a answer of change in price of the same commodity. It is a measure of how consumers react to a change in price. One... If you want to conk a full essay, order it on our website:
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