Elasticity of Demand Assignment Example | Topics and Well Written Essays - 250 words

Elasticity of Demand - Assignment Example Coffee, tea, and cocoa are substitute products under the beverages category, which causes cross price elasticity to be positive. This means a rise in the price of coffee causes the demand for tea to rise (Nicholson and Snyder, 2014). A coffee processor will always record increased total income after it lowers the price of its coffee products because of cross elasticity. Cross elasticity occurs mostly because of two opposing forces on overall sales returns when coffee products decrease in price. The first force originates from the processing company imposing a reduced price on every unit on sale (Nicholson and Snyder, 2014). The first force lowers total income. Nevertheless, the law of demand compels the amount of products customers are ready to buy to increase after a reduction in price. This law comes to play in the cross elasticity of demand for coffee. The other force of a reduction in coffee price is inclined to raise income since the amount of units sold rise too (Nicholson and Snyder,

Question wk 3 Essay Example | Topics and Well Written Essays - 1000 words

Question wk 3 - Essay Example Leaders are big zeros without followers. Followers are the strengths and weaknesses of the leaders. Some leaders might get better followers and they will face fewer problems in leading them whereas some other leaders may get problematic followers and it is difficult for them to lead such followers towards the target. People will never follow somebody blindly. They will follow somebody for some purpose. Leaders can effectively lead the followers only if they will be able to provide genuine reasons for the mutual benefits. In any case, leadership and followership are interconnected and neither of it can survive without having the support from the other one. I expect my followers to support me always even if I made some unpopular decisions. They should realize that the ultimate aim of my decisions would be to reach the target which is good for them as well. If they have some disagreements with my decisions, I expect them to make me aware of it privately rather than complaining publicly. My followers should keep all their discussions with me as a private matter and they should never discuss it with their colleagues. Such open discussions may create problems to me as well as to them also. They should accept all the responsibilities provided to them. I don’t like somebody capable of taking a responsibility, denying it when it is offered to him. My followers should reveal the truth or the exact reasons to me if they were unable to do something instructed. They should never hide any information related to the project from me. Moreover, they should have better knowledge about their own strengths and weaknesses. I expect all my follower s to communicate well with me and communicate well with each other. They should take initiatives wherever possible to solve a problem and should not wait for my instructions always, if they have absolute surety of the solutions. I always try to keep all the above aspects of followership in my dealings with my