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Pricing strategies based on the demand curve's elasticity
What can you say about the elasticity of the demand curve that faces the product (or service) produced by an organization? How much control might an organization have over pricing based on a product's elasticity? Recommend a pricing strategy to increase revenue.
Prior to opening his hardware shop Bob worked as an investment banker earning $175,000 each year. He pays his employees $150,000 per year.
At the end of 2002, the (1-year) interest rate was 1% in the U.S., and 26% in Argentina. Recall that at the same time, the spot rate for the Argentine currency was Peso 4.00/$.
Explain why the Fed must normally add reserves to the banking system via open market operations, on most days, in order to maintain its interest rate target in the federal funds market.
Illustrate what fiscal policy or policies would be the best to get it out of the recession
What is the growth rate of nominal GDP in the economy?An adverse supply shock raises the inflation rate associated with every output ratio by 3 percentage points. Draw the new short-run Phillips Curve.
Show that, with a linear demand curve, the imposition of a per-unit tax on a monopoly will cause price to rise by less than the tax. Would this be true for a constant elasticity demand curve?
Elucidate the policy which change, you would recommend also how this change would be financed.
Assume the graph below represents the market demand for a patented prescription drug together with the marginal cost and average cost functions for producing the drug. Draw the marginal revenue function for this firm.
Consider the following two good pure exchange economy: Alfred's utility function is U A (x, y) = min{x, y} and Bob's utility function is U B (x, y) = max{x, y}.
What happens to labour supply increases?-He will work more as wages increase, but only if n > 0.
Assume the government imposes a tax of $2.00 per unit to reduce widget consumption and raise government revenues. What will the equilibrium quantity be?
You are the manager of a firm that produces products X and Y at zero cost. You know that different types of consumers value your two products differently.
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