MKT 440 UM Marketing Pricing Analytics Using R Questions

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Please using R to solve this question. Question 5 ONLY.

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OH notes:
3.2
Page 36 of Topic 3 to compare general equations for cross-elasticity and own-elasticity:
what are the variables and parameters used and not used there to decide if the result is
reasonable.
3.3
Product line maximization (sum of the two profits together)
Optimal price lower than the price observed in data
4.1
Code from class
4.2
Use average price as well
4.3
Compare the estimates found in Q1 to elasticity in Q2 to find how they match up.
Which consumer segment to focus on to position Kiwi Bubbles. (charge the same price for
all segments)
Larger coefficient means closer substitute
5.1
Iterate over to calculate optimal price for MB, then the optimal prices for KB and KR, until
reach the equilibrium price
Report the sequence of the prices of the whole process
5.4
With KB/without KB; in a steady environment/in a dynamic environment.
PROJECT 2
###dataset
rm(list = ls())
demo
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