Managerial Economics – Market Demand, economics homework help
Read the articles by Dravone and Gandal; Schepp; andCraft on different products and how the demand for them has been estimated,either correctly or incorrectly. Now consider a product produced by alocal firm. Explain how you might estimate the demand for thisproduct. Be specific and include a description of the variables you woulduse and why you would use them. Be sure to discuss how you would collectthe data on the variables you need. Defend your answer and cite yoursources.
Dranove, D., & Gandal, N. (2003). The DVD-VS.-DIVX standard war:Empirical evidence of network effects and preannouncement effects.Journal Of Economics &Management Strategy, 12(3), 363-386. doi:10.1162/105864003322309518
Find an article onProQuest of some other database from the NAU library that estimates either theelasticity of demand, the income elasticity, or the cross-price elasticity fora good or service. Interpret the meaning of the elasticity results thatyou found and discuss whether you agree with the results or not. Defendyour answer and cite your sources.