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Marketers of entrenched brands like Nike, Pepsi, and Levi Strauss are tearing their hair out over Gen Y consumers. Image-building campaigns (e.g., 50 Cent endorsing Reebok) are not as effective as they once were. What advice would you give to a marketer who wants to appeal to Gen Y? What are major do’s and don’ts? Can you provide some examples of specific marketing attempts targeted to Gen Y that work or do not work?
Conclude cost elasticity of demand at each quantity demanded utilizing formula % chg in QD divided by % chg in cost.
Explain what is meant by the principal agent problem, and relate it to shirking. What are the different pay incentive plans that correct for shirking on the job? How does profit sharing reduce shirking? What is the reason for efficiency wages?
For the range of prices that you are planning to charge, own price elasticity of demand is believed to be -1.5. Calculate the optimal (profit maximizing) price that you should charge. Show all calculations.
Depict the von Neumann-Morgenstern utility index u in a diagram
If the manager of impact industries decides to produce 240 units, illustrate what will the long-run total cost also long-run average cost of producing 180 units.
Major restructuring plan in an attempt to reverse declining global sales. Suppose that as part of the restructuring plan Mitsubishi conducts an analysis of how labor and capital are used in its production process. Prior to restructuring Mitsubishi’s ..
The Law of Supply suggests that the price-elasticity of supply is: If a 10 percent increase in the price of one good results in no change in the quantity demanded of another good, then it can be concluded that the two goods are: Marginal utility is t..
She can charge different prices in the two markets. Illustrate what is the profit-maximizing combination of quantities for this monopolist.
Elucidate the difference in approaches and describe the impact these differences have on excess quantity of labor supplied.
What do you think it resulted in less standing in line by pregnant women. Do you suppose and women became pregnant in prder to cut into the long lines.
The sales manager of a retail outlet suggests that the best way to increase the number of customers is to have a sale. If a 10 percent price cut doesn’t bring in enough customers, then he’ll cut prices 20 percent. Increased cash flow should take care..
Define the “natural rate of unemployment” and show that its two equations are equivalent. What are its causes and what is its significance for public policy? Define “structural unemployment” and explain its causes. Use a labor market diagram to show ..
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