Reference no: EM131002553
The following data pertain to products A and B, both of which are purchased by Madame X. Initially, the prices of the products and quantities consumed are:
PA = $10, QA = 3, PB = $10, QB = 7.
Madame X has $100 to spend per time period. After a reduction in price of B, the prices and quantities consumed are:
PA = $10, QA = 2.5, PB = $5, QB = 15.
Assume that Madame X maximizes utility under both price conditions above. Also, note that if after the price reduction enough income were taken away from Madame X to put her back on the original indifference curve, she would consume this combination of A and B:
QA = 1.5, QB = 9
1) The change in consumption of good B due to the substitution effect is ____________ and the change in consumption of good B due to the income effect is________ .
|
What is maslows method
: What is maslows method? How did Ralphlauren create three levels of feelings in his ads?What is a technique in mountain dewmocracy?
|
|
Describe the various forms of direct response advertising
: Describe the various forms of direct response advertising. Discuss some of the reasons for the success of direct response advertising.
|
|
What is your predominant style of leadership
: What is your predominant style (delegative, directive, participative) of leadership? Are there clear benefits from using this style? Are there negative side effects
|
|
Ethnocentricity can be defined
: 1) Ethnocentricity can be defined as the ________. A) scientific description of individual human societies
|
|
Data pertain to products-change in consumption of good
: The following data pertain to products A and B, both of which are purchased by Madame X. Initially, the prices of the products and quantities consumed are: Madame X has $100 to spend per time period. After a reduction in price of B, the prices and qu..
|
|
Gaussian population with mean
: 1. Given a random sample of 10 observations drawn from a Gaussian population with mean 100, and variance 25, compute the following probabilities regarding the sample mean, X¯:
|
|
Define the three types of price discrimination
: Define the 3 types of price discrimination and explain why 1st degree discrimination is very difficult to practice. Provide 1 example where a form of 1st degree discrimination is practiced.
|
|
Explain what is meant by the term synoptic gospels
: Explain what is meant by the term "synoptic gospels," and discuss why this term is important for Christians when reading the Bible
|
|
Choose a specific target market
: Choose a specific target market that an advertiser might want to reach. Discuss how magazines and/or newspapers could be used to reach this particular market segment in a cost effective manner
|