Original graduate level answer!!!!Bulls Eye department store specializes in the sales of discounted
clothing, shoes, household items, etc. similar to the offerings at a
regular Walmart or Target. Bulls Eye is the only department store in
Show Low and the nearest other discount retailer is Target, located 49
miles away in Eagar. Bulls Eye, therefore, has some market power in its
local area. Despite having some market power, Bulls Eye is currently
suffering losses. An analyst at Bulls Eye is recommending to the manager
to raise prices, so that profitability can be improved. The manager is
unsure of this strategy as recent data points to increasing numbers of
individuals shopping more and more. What are the pros and cons of
raising the prices at Bulls Eye and would that strategy be profitable?
*****Consider demand elasticity and market structure in your response. How is
increasing of the price going to impact the company’s revenues given
its demand elasticity? In 300 words or more, please, provide your
response to the above discussion questions. Substantive responses use theory, research, and experience or examples
to support ideas and further the class knowledge on the discussion
topic.******
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