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A. A. Pick a health and beauty brand and item you use regularly; for example, shampoo, shaving cream, moisturizer, razor blades, etc. Imagine this brand is extending its reach to a new target audience with a new product. Identify this new target audience and then outline the beginnings of a pricing strategy for this new product, by offering specifics instead of generalities about the strategy. For example, do not merely say suggest a competitive price. Instead say, suggest a high-volume, low-introductory price. Provide a rationale for your strategy choice(s).
B. B. In today's economic climate, retailers are continuously conducting sales in order to get customers in their doors. Analyze the short-term and long-term effects of continuous sales to all stakeholders.
What would be the long run price and quantity for this firm in a competitive market and in the long run how many firms are in the industry?
Evaluate the impact of the proposal to cut prices and what is the optimal profit-maximizing markup suggested by economic theory?
Briefly describe the major categories of expected benefits and expected costs from undertaking the project and explain how and where the value of human lives saved or lost might enter this analysis, and explain whether all of these effects are addr..
What is meant when a monopoly firm is described as a price maker? How is a price maker different from a price taker? Is a monopoly ever a price taker?
A major step toward mastering the economic way of considering is learning to reason in terms of supply and demand. I have listed many questions below to answer and practice these ideas.
Write out your final regression equation, with standard error in parentheses under each coefficient. Also, present statistic - F and 2R for this final regression.
Describe why some firms might suffer diseconomies of scale. Do you know any examples? Could GM be an example of diseconomies of scale?
An economist for the widget company estimated following short term production function. Compute the AP and MP mathematically and identify the three stages.
Law of Demand indicates that there is the inverse relationship between price and quantity, why does it matter which particular mix of price and quantity is selected?
You perform a travel cost study that looks at the relationship between the cost of visiting a lake (including costs of travel, value of time spent not working & any entry fees),
how does charging the monopoly optimum and the welfare of consumers, the monopoly, and society?
Comment on the statement. Do you agree with the speaker? Explain. Use a graph to illustrate the answer indicating the firm's short-run cost structure
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