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Q. Review the marketing definition of product. Why do you think marketers define product so broadly?
Q. Elucidate the relationship among scarcity, choice and opportunity cost in the context of managerial economics. 1b. Given the demand function Q=400-5p and supply function Q=5p, calculate the equilibrium price and quantity. 1C. State and explain the principle of diminishing marginal utility in relation to consumer demand.
Explain how can multiplier have a -ve effect. What is the relationship among the multiplier as well as the marginal propensities.
Illustrate what is the maximum amount your firm should be willing to spend on lobbying efforts to prevent the cost from being regulated at the socially optimal level.
Explain the process of how that movement occurred using behaviors of consumers and suppliers. Graph the movement between the two points as well.
Suppose that a pay equity plan has just been put in place in your organization. The pay equity consulting firm did a job evaluation and assigned points to each of the male-dominated and female-dominated jobs.
The United States is experiencing a recession and Congress decides to adopt an expansionary fiscal policy to stimulate the economy.
Explicate how firms decide on where to produce depending on the marginal product and average product.
Original owners must sell their used cars. Original owners know what their cars are worth, but buyers can't determine a cars quality until they buy it.
Without using the midpoint formula, can you tell whether demand is elastic, inelastic, or unit-elastic over this price range.
Assume an economy produces only pizza also jeans. If some resources are unique in the construction of either pizzas or jeans.
Analyze how prescription drugs affect the demand and supply of other products and services in this country.
Identify which economic also political policies affect your firm also Explicate Explain how they impact business decisions.
Fully evaluate these regression results, including computation of t-statistics, adjusted R2, and the F-statistic.
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