Elastiity Project-Lisa Kalley Spring 2014

Elastiity Project-Lisa Kalley Spring 2014 - Lisa Kalley...

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Lisa Kalley Spring 2014 Session 5 Demand and Convince Case 1 and Case 2 Written By: Lisa Kalley ECON101-00F Professor Sullivan 2/14/2014 I began my search for the two companies by looking at the companies in the world that have the highest revenue. I found that the top oil provider was actually two companies merged together and first on the list of the world’s largest oil/ fuel suppliers compiled by quoteoil.com. (quoteoil.com 2014) I chose oil as my target product with the reasoning that oil is something that no matter how high the price rises on it and how bad our economy may be we still have to have to survive and will sacrifice other products of lesser importance to obtain. My second target product I chose was fast food. I chose McDonalds as the fast food company for my elastic demand company due to its national notability and high revenue. The reasoning behind my selection of fast food was while it is highly sought out we do have alternatives to what is offered
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