Discuss the concept of cross-price elasticity as it relates to ...

[ashley]

Discuss the concept of cross-price elasticity as it relates to service pricing.

Question 2

All of the following are benefits of SWOT analysis EXCEPT:
 A) It is simple to use and requires no extensive training or skills.
  B) Its structured nature ensures that data and information are correctly categorized.
  C) It promotes collaboration and open information exchange.
  D) It can synthesize and integrate diverse information.
  E) It can reduce costs associated with strategic planning.

[macmac]

Answer to Question 1

Cross-price elasticity measures the responsiveness of demand for a service relative to a change in price for another service. If this relationship is negative (e.g., the price of one increases, the demand for the other decreases), then the two services are said to be complements. If the relationship is positive, then the two services may be substitutes, and consumption of one is at the expense of the consumption of the other.

Answer to Question 2

B

[ashley]

YES! Correct, THANKS for helping me on my review

[Mochi]

Thanks for the timely response, appreciate it