Question on post BB

You need to come up with question and respond on the following post:”The product chosen is cake.  The determinants of demand for cake are the price of cake, the price of any related products such as pie, cookies, ice cream as well as the income level of the potential customers.  Providing cakes in a variety of flavors, ingredients, colors, shapes in varying price ranges will increase demand.  Also having an assortment of cakes created from organic ingredients will attract health conscious customers.  These will all have a direct impact on demand.  Additionally, funding advertising expenditures, managing customer expectations, and understanding the tastes and preferences of the customers will participate as determining factors.
The substitutes for cake include pastries, jello, pudding, pie, brownies, fudge, donuts, and Belgian waffle a la mode.  These have a positive cross elasticity to cake.  The complements to cake include ice cream, coffee, tea, raspberry/strawberry wine.  These have a negative cross elasticity to chocolate cake.  The price elasticity of demand of chocolate cake is elastic.  As the price of cake increases, the total revenue decreases.  As the price of cake decreases, total revenue increases.  Determinants of the price elasticity of demand for cake are good substitutes (e.g., pies, donuts), competition i.e., competing bakeries and food stores, consumption of cake for ceremonies, holidays, and special occasions and throughout the year, and brand loyalty.  I would characterize the income elasticity of demand for cake as small income elasticity that is stable over economic cycles.

Save Time On Research and Writing
Hire a Pro to Write You a 100% Plagiarism-Free Paper.
Get My Paper
Calculate your order
275 words
Total price: $0.00

Top-quality papers guaranteed


100% original papers

We sell only unique pieces of writing completed according to your demands.


Confidential service

We use security encryption to keep your personal data protected.


Money-back guarantee

We can give your money back if something goes wrong with your order.

Enjoy the free features we offer to everyone

  1. Title page

    Get a free title page formatted according to the specifics of your particular style.

  2. Custom formatting

    Request us to use APA, MLA, Harvard, Chicago, or any other style for your essay.

  3. Bibliography page

    Don’t pay extra for a list of references that perfectly fits your academic needs.

  4. 24/7 support assistance

    Ask us a question anytime you need to—we don’t charge extra for supporting you!

Calculate how much your essay costs

Type of paper
Academic level
550 words

How to place an order

  • Choose the number of pages, your academic level, and deadline
  • Push the orange button
  • Give instructions for your paper
  • Pay with PayPal or a credit card
  • Track the progress of your order
  • Approve and enjoy your custom paper

Ask experts to write you a cheap essay of excellent quality

Place an order
Live Chat+1(978) 822-0999EmailWhatsApp

Order your essay today and save 20% with the discount code SPEED

seoartvin escortizmir escortelazığ escortbacklink satışbacklink saleseskişehir oto kurtarıcıeskişehir oto kurtarıcıoto çekicibacklink satışbacklink satışıbacklink satışbacklink