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Business Economics
Jun 2025 Examination
Q1 Rahul operates a thriving coffee
shop in a busy commercial district. He observes that a small price increase in
his premium espresso leads to a sharp decline in sales, while a similar price
hike for regular black coffee has minimal impact on demand. This variation in
consumer response raises a crucial question: What factors influence the price
elasticity of demand for different products? Analyse the key factors that
determine price elasticity, including the availability of substitutes, brand
loyalty, income levels, and consumer preferences and habits. Based on these
insights, how can Rahul adjust his pricing strategy to enhance profitability
while ensuring customer retention and satisfaction? (10 Marks)
Q2. Meera is the operations manager
of a fast-growing organic food company. As her company plans to expand into new
markets, she needs to forecast future demand to make informed capital
investment and expansion decisions. Since the company is launching a new line
of organic snacks, historical sales data is limited, making traditional
statistical forecasting methods less effective. To tackle this challenge, Meera
explores qualitative demand forecasting techniques that rely on expert opinions,
market research, and consumer insights rather than past data. Evaluate the key
qualitative methods of demand forecasting that Meera can use in this situation?
(10 Marks)
Q3 (A) A local bakery sells freshly
baked muffins. When the price of a muffin is Rs.10, the bakery sells 50 muffins
per day. However, due to an increase in ingredient costs, the bakery raises the
price to Rs.12, and as a result, daily sales drop to 40 muffins. Calculate the
price elasticity of demand (PED) for the muffins. Evaluate how can the bakery
use this information to decide future pricing strategies (5 Marks)
Q3 (B)Riya enjoys both chocolates
and cookies equally but is willing to give up two chocolates for one extra
cookie while maintaining the same level of satisfaction. Using the concept of
indifference curve analysis, analyze the above scenario and discuss the
indifference curve and its properties in detail.
Dear Students,
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students!
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