Hi, I need help with essay on Understanding markets: Report- Dyson goes without blades. Paper must be at least 2000 words. Please, no plagiarized work!Dyson Air Multiplier has got price as well as inc

Hi, I need help with essay on Understanding markets: Report- Dyson goes without blades. Paper must be at least 2000 words. Please, no plagiarized work!

Dyson Air Multiplier has got price as well as income elastic demand. This is because the customers value the product but are reluctant to purchase due to high price. Thus, if the price of the product falls, we can expect the fan to find great increase in its demand. Likewise, if the income of the potential customers rises,

we once again can look for a sharp increase in the demand for the fan and great trouble for the competitors.

Although the fan is a new design and an appealing one, the fan is still only a substitute for the other fans with blades. Moreover, there are other brands among the conventional fans preferred by customers to Dyson Air Multiplier. The fan thus has failed to become a monopoly of a unique kind and has got strong competition to face in the market. Dyson, therefore, has just managed to mitigaite the level of competition.