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Discuss the importance of opinion leaders in marketing and how they can influence the success of a product or service. Identify two opinion leaders and explain and justify your choices.
With current technology, suppose a firm is producing 800 loaves of banana bread daily. Also assume that the least-cost combination of resources in producing those loaves is 5 units of labor, 5 units of land, 4 units of capital, and 1 unit of entrepre..
Find the optimal crude oil allocation for the following example if the profit associated with square foot of fiber is cut to $0.375,
Conduct a web search to find an advertisement that serves primarily to inform consumers and promote competition. Conduct a second web search and find an advertisement that serves primarily to make consumers less price sensitive to their product.
What were the issues, concerns and problems of the independent states. How did they differ from those faced by the National Government?
Identify specific products which have above average usage for African American, Asian Americans and Hispanic Americans? Brands that have higher than average purchase for each group for African Americans, Asian Americans and Hispanic Americans?
Assuming that wheat and barley both sell for $1, and income is $20, compute the price elasticity, cross price elasticity and income elasticity for wheat.
Using rational theory explain how rational individuals optimize their decision making? And, why sometimes rational individuals make irrational economic decisions?
One reason firms in monopolistic competition can charge different prices is that their products are identical 2 similar 3 differentiated 4 guaranteed. The Clayton Act prohibits price discrimination. In monopolistic competition, there is no need for..
Consider a two-firm industry. Firm 1 (the incumbent) chooses a level of output q1. Firm 2 (the potential entrant) observes q1 and then chooses its level of output q2. Find the subgame perfect equilibrium levels of q1 and q2 keeping in mind that firm ..
Suppose you own a car wash and that its total cost function is C = 20 + 2Q + .3Q^2 where C = total cost in dollars per hour and Q is the number of cars washed per hour. You receive 5 dollars for each car washed. Derive the firm’s short run supply cur..
Can you explain the law of diminishing returns in your own job place. Can you find a counter example.
Suppose the French suddenly develop a strong taste for California wines. What happens to the demand for dollars in the market for foreign-currency exchange What happens to the value of dollars in the market for foreign-currency exchange
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