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Explain the type of pricing strategy that you as the manager of a company would implement for Good X and Good Y with the following price elasticity of demand co efficient. Use diagrams to motivate your answer.
Suppose that you can 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.
You know that if someone is drunk, then the probability of them being loud is .9. Use Bayes’s Rule to calculate P(drunk|loud).
What are the main obstacles within Brazil that is hindering them from becoming a developed nation?
Effective leaders are essential to the success of any organization, be it a small business or the U.S. government, the largest organization in the world. Globalization demands global leaders. What is global leadership? How does it differ from a purel..
What effect does the teacher have on creating a learning environment with little to no behavior problems?
Suppose the current price of gasoline at the pump is $4 per gallon and that one million gallons are sold per month in Texas. A local politician proposes to add a 10-cent tax to the price of a gallon of gasoline, and she claims that the tax will gener..
Pay particular attention to how consumer demand would change, and how the event would affect production costs and the business cycle.
Assume that a monopolist has a demand curve given by P = 1500 − 4Q, and T C = 100 + 5Q2 with MC = 10Q. How much profit does the firm make? Show on the graph whether this market is operating efficiently. Calculate the dead weight loss.
Describe the equilibrium price and quantity. What is the surplus of consumers and the welfare.
A large manufacturing firm can procure one equipment item from two suppliers -firm (A) and firm (B). Approximately 100,000 unites
q. you are still a manager of a small wigest producing firm. now there are 14 such firms including yoursin industry.
Joe's utility function is U (A,B)=AB^3. Compute Joe’s expenditure function. Using the expenditure function compute the income increase (in percentage terms) that Joe needs to maintain his original standard of living when the price of basic goods doub..
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