Economics Milestone 1
9/27/2019 9:50:34 AM
Number Of Pages:
3 Double-spaced (900 words)
Number Of Sources:
Type of Document:
Use the 10-K report and other data to describe the general nature of the focus firm, H.E. Butt Grocery Company (H.E.B Grocery Stores), its product and the industry of which it is a part. Use Whole Foods Market, Inc. who competes with HEB grocery stores, in this industry. Define the industry focus as narrowly as possible, and compare the competing organization. Assess and describe factors that distinguish Whole Foods Market, Inc. product demand from that of your focus HEB Grocery Stores. Identify one substitute product sold by the competitor firm, Whole Foods. Compute the Cross Price Elasticity of Demand for the substitute good and assess implications of a change in the price of this good on demand for your focus organization, HEB Grocery, produce. Identify and describe one complement good and determine implications if this is a multiproduct firm. Analyze and describe the following in quantitative and qualitative terms: Determinants of market demand for your focus firm’s product and/or service other than price. Compute an Arc Elasticity of Demand for your focus firm’s primary product. Use this measure to approximate Own Price Elasticity and assess the sensitivity of this product to changes in price. Determine whether Income Elasticity is an important consideration for primary products produced by this firm.
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