Government Policy and Irregulation in Relation to Low Calorie Frozen, Microwavable Food Company
The managers in the low calorie, frozen microwave Food Company should follow the plan of getting the elasticity of demand. It shows the responsiveness of quantity demanded in respect to the changes in price. Demand of a product is dependent on the pricing strategy that a company follows in addition to other factors. The factors include the luxury or necessity, availability of close substitutes, the cost of switching off, tastes and preferences of others (Nguyen, 2012). A necessity product has an inelastic demand. It refers to a state of affairs whereby a unit increase or decrease in price of Continue reading...
