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Fiberia Accessories, a clothing retailer, is planning to introduce a new line of sweaters as part of the winter collection for $65 with an inventory of 1500. The main selling season is 60 days between November and December. The store then sells the remaining units in a clearance sale at 65 percent discount. Out of the 60 main retail days, Fiberia sells the sweaters at full retail price for only 45 days, while giving a discount of 25 percent for the remaining 15 days. The demand functions a, and b are given as 79.5 and 1.1 respectively. Calculate the total number of units sold during the full retail sales period. Calculate the total revenue during the discount sales period. Calculate the total revenue for the new line of sweaters.
Suppose that you can schedule a worker for up to 10 hours per day. The total benefit and total cost functions are B(H) = 1200 × √H and C(H) = 200H. The corresponding formulas for marginal benefit and marginal cost are MB(H) = 600/√H and MC(H) = 200. ..
Keeping all else constant, their answer would likely differ. How do you guess the interviewed will answer? Does the difference in response matters? I
Leon and Heidi decided to invest $3,250 annually for only the first eight years of their marriage. The first payment was made at age 20. If the annual interest rate is 9%, how much accumulated interest and principal will they have at age 70? Please s..
Are monopolies and oligopolies (firms demonstrating power) always bad for society? Be sure to provide real world examples of where this may be the case to strengthen your position in the google antirust case.
Assuming that the price level is P = 1, find the equilibrium real output, interest rate, consumption, and investment. Organize your results in the following table. (Hint: You should solve both the goods market and the money market equilibrium.)
Price Ceilings: Discuss whether you think we should continue to have a zero price for using a freeway. Or should we have transponders mounted on the dashboards of vehicles, as practiced in Singapore, which monitor and track the miles-driven within a ..
When a purely competitive firm is in long-run equilibrium, price is equal to:
How many people are unemployed according to the Burea of Labor Statistics? What is the unemployment rate according to the BLS?
What does Mississippi’s declaration of secession suggest about how race was viewed in the South? Mississippi wanted gradual abolition in which blacks would eventually get rights. African Americans were seen as unequal and naturally suited for the Sou..
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Describe the law of diminishing marginal utility. On what assumptions is this law based? Use diminishing marginal utility to explain why millionaires often do not have many homes, even if they can afford it. Explain the three characteristics of utili..
A) What is the probability that all seven arrive on time? B) What is the probability that exactly five arrive on time? C) What is the probability that no more than four arrive on time? D) Find the mean number of parcels that will arrive on time.
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