Agree or disagree with post 2 references required no plagersim VariablesConcerning the shoe industry, below

Agree or disagree with post 2 references required no plagersim 
Variables
Concerning the shoe industry, below relevant variables are discussed and explained. Inferior goods are good when quantity demanded rises when the consumer income decreases, while a normal good is the opposite when the consumer’s demand is increased, as must their income increase (Hirschey, 2009). Substitution and income effects, changes in price affecting buyer’s purchasing decisions (Hirschey, 2009). Derived demand is a demand for a good or service because of the demand for something else (Hirschey, 2009). Real income refers to the income of an individual or group after considering the effects of inflation on purchasing power. Projected income is an estimate of the financial results you’ll see from your business in a future period (Hirschey, 2009).
Examples within Industry
Inferior goods versus normal goods come into play within the shoe industry; as income increases, the purchasing power for normal goods (expensive shoes). While the opposite is also relative, the decrease in income lends to a consumer looking for a more inferior good. With the income fluctuation, we settle into the variable of Substitution and Income effects; an example of this in the shoe industry shows the higher demand for a shoe, the higher the price. A new shoe company may have initially set a reasonable price compared to an individual’s income. Let us say the company increases the price of that shoes 3x, your income has not changed, but the pricing of the good has, so this illuminates a poor feeling because you used to be able to afford the shoe, now you cannot. Therefore, with the price change, the consumer looks to a different competitor or substitution because they cannot afford the original shoe they wore. Derived demand within the shoe industry can range from the procurement of animal hides, fabrics, and added materials used to create shoes. Therefore, the need for Italian leather shoes creates a derived demand for animal hides (Hirschey, 2009).
Tools for Estimates
Depending on these variables mentioned above, it will affect the product and industry of shoes. Methods used to estimate the effects of the variables include Utility theory. Basic utility theory explains that as you consume increasing amounts of a product, you receive decreasing utility from each additional unit consumed and must be motivated to consume even more of the product. Additionally, understanding the Elasticity concept can enable managers to estimate the effects of variables. Elasticity concept, elasticity concept is also used in production and cost analysis to evaluate the effect of changes in input on output and the effect of output changes on costs. In finance, elasticity is used to measure operating leverage (Hirschey, 2009). The company must understand the effects of changes in prices and consumer incomes to decide the price cut necessary to offset the decline in sales caused by a business recession.
Similarly, the sensitivity of demand to changes in advertising must be quantified if the firm responds appropriately to an increase in competitor advertising (Hirschey, 2009). Finally, a CVP analysis will help the company understand what it takes to break even with the product. The CVP analysis will shed light on the relationships between revenues, costs, and profits (Hirschey, 2009).
References
Hirschey, M. (2009). Fundamentals of Managerial Economics, (9th ed.). Boston, MA: Cengage Learning, ISBN13: 978-0324584837