WK2 DISCUSSION. Managerial Economics. Management Coursework (Coursework Sample)
ANSWER THE FOLLOWING QUISTON? Use you textbook as a reference: Samuelson, W.F., & Marks, S.G. (2015). Managerial economics (8th ed.). Hoboken, NJ: Wiley.
1. Why is the distinction between a movement along the demand curve and a shift in demand important?
2. What do you think are the managerial implications?
Discuss your rationale.
On a small scale, it is important to distinguish between a movement along the demand curve and a shift in demand because it helps companies evaluate their market performance and conduct consumer demand analysis. When a product’s price is increased or decreased, a movement along the demand curve can be observed and this allows firms to know when and how they should increase or decrease their product prices to stay in the competition for long (Samuelson & Marks, 2015, p. 65).\
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