Demand.
Describe the law of demand, consumer surplus, and aggregate demand.
Use marginal analysis to make pricing and output decisions.
Demonstrate your understanding of price elasticity of demand (PED) and its value in calculating a desired margin, and the factors that make the demand for a good more elastic.
Use current margin and desired margin to make optimal pricing decisions.
Apply stay-even analysis to the determination of whether a price increase is profitable or not.
Requirements:
300-400 words, APA format