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Effective pricing strategies have been the focus of much of course. Yet, while some make theoretical sense, consumers feel disadvantaged --- or worse, being "taken for a ride --- at times (such as in the case of Coca-Cola adjustable price vending machines and Uber's policy of "surge pricing"). Explain the concept of a reference price and how it relates to the psychology of the consumer. Further, explain and discuss how firms can more easily integrate efficient economic pricing practices without facing a backlash from consumers.
Demand for airline tickets fluctuates throughout the year, which affects the price of an airline ticket. Suggest the type of game that may be most appropriate for a specific airline to play to address the differences in demand and elasticity and the ..
At the most affordable point, what is Kerry's marginal rate of substitution (MRS) of good X for good Y? Explain briefly how you obtain the result.
Define product differentiation. Explain how firms use brand management and advertising to differentiate their product. Describe an advertising strategy that you could use to differentiate your movie theater (you must come up with a real-world strateg..
The formation of the European Monetary Union in 1999 resulted in the creation of a single currency (the euro) and a European Central Bank. With a common central bank, the central bank of each participating nation performs operations similar to those ..
The purpose of this assessment is to help you recap the concepts covered in this course and discuss the challenges you have faced in previous assessments. Review the concepts covered in the previous modules and discuss the following questions: How do..
1) Many economists will argue that government should not be allowed or counted on to create jobs. Discuss your analysis of this type of action sometimes governments take. 2) Discuss Block's quote "Production is everything, and jobs are nothing but..
If a stock has expected earnings of 12% and a beta of 1.4 while the market risk premium is 6%, what is the risk free rate (using the SML model)?
What is happening to the US exports and imports and net exports in each of the following situations?
Think of an industry that pollutes the water and has access to variable technology for reducing that pollution. Explain the impact of each of the following, other things constant, on the optimal level of water quality:
What are some of the unintended consequences of efforts to regulate the illicit global economy? How can states more effectively reduce the negative consequences of black markets?
A mining company is interested in obtaining the demand curve for coal. The firm's research department informs you the price elasticity of demand is -0.748, and the current price and quantity are $41 and 1,206 respectively. Price is measured in dollar..
The candidate is to write and present a report on the marketing mix in their own workplace or a workplace that they are familiar with.
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