illustrate how a company can circumvent the influence of joint demand
Answers
Answered by
5
Answer:
Joint demand occurs when demand for two goods is interdependent. For example, it is no good having a printer without the ink to go with it. Similarly, ink cartridges are no use without a printer. Another example could be a razor and razor blades.
Basically, the definition of joint demand is when you need two goods to go together.
If two goods are in joint demand they will have a high and negative cross elasticity of demand. – A fall in the price of ink will lead to an increase in demand for printers.
Similar questions