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# MGT301 Assignment#02 Solution & Discussion Due Date: 02-06-2011

Semester “Spring 2011”

“Principles of Marketing (MGT301)”

Assignment No. 2

Marks: 20

“Price Elasticity of Demand”

Price Elasticity of Demand is an important concept which should be considered while changing
the price of product. In this perspective two scenarios are given below:

Scenario 1: (5 Marks for explanation+ 5 marks for Graph)

Product A belongs to the category of normal goods and it has a lot of substitutes. If the price of product B increases then what will be the effect on its demand? Justify your answer with the help of graph.

Scenario 2: (5 Marks for explanation+ 5 marks for Graph).

Product B is a high quality product and people who purchase this product belong to elite class.
It has very less substitutes available in the market which don’t have the same quality as product
C has. If the price of product C increases then what will be the effect on the demand of product

Instructions:

2. Graph should be labeled

3. You can take help of MS Word and Excel in making graphs.

Important Tips

1. This Assignment can be best attempted from the knowledge acquired after watching video lecture no. 23 to lecture no 24 and reading handouts as well as recommended text book).

3. Answer the questions with logic and what you have learnt so far in MGT301
Schedule
Opening Date and Time May 27 , 2011 At 12:01 A.M. (Mid-Night)
Due Date and Time June 02 , 2011At 11:59 P.M. (Mid-Night)

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Views: 679

### Replies to This Discussion

See the attached file MGT301 Assignment No 2 Solution Spring 2011
Attachments:
plzzz help............Thank yu.............<!!>
 Typographic Error in assignment #2 Dated: May 27, 11 Dear Students,   In assignment #2 there is a typographic error. In scenario #1 Product B should be considered in place of product A. In scenario #2 Product C should be considered in place of Product B.   Good Luck!

i want to know we just have to draw graphs or we also have to discuss it

Both but explain breifly in bullet style.
See the attached file for idea solution of MGT301 Assignment#02 Solution Spring 2011
Attachments:
plz explain ths solution .............. i cant understand how u make the graph.. and if we see the graph of price elasticity of demand on handsout .......... than it is totaly different.... plz see the page 117 of MGT301 ....i am so confuse.........

tuo handout wala graph bna na b nae ha .

thats for information ...  graph tu given senerios k according bnana hai .

elastic is when direstly relation (when price high demand also high)

and inelastic is  inversly relation(when price high demand not so high)

Attachments:

what is mistake in assignment quiz ??? '

In assignment #2 there is a typographic error. In scenario #1 Product B should be considered in place of product A.

In scenario #2 Product C should be considered in place of Product B.

now what is that ???
Confusing ..... :(

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