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1. Why might you expect to see flat royalty payments in home-based franchises but revenue-based royalties in franchises that operate from commercial buildings? (Hint: Among the most popular home-based franchises are cleaning services offered to businesses, and delivery services for seniors who live at home.) a. Is your explanation consistent with the fact that franchised tutoring services often charge a fixed royalty per student enrolled?
2. A small-volume foreign auto maker limits the number of its franchised dealers in the United States and gives them exclusive territories. There are also non-dealers who have no official connection with the manufacturer. They buy its cars overseas and sell them in the United States, a phenomenon sometimes called a "gray market." If you are a manufacture do you necessarily want the gray market to cease to exist? Why or why not? How about if you are a franchised dealer?
3. Most restaurant customers tip according to a percentage rule-between 15 and 25 percent of the bill. Diners who have dinner and a $20 bottle of wine usually pay the same percentage of the bottle price as diners who order a $100 bottle. Why, when the same efforts must be made to uncork and pour both bottles?
4. How does your analysis of VMP change if the employer is a monopolist producer of its output but a price-taker in the labor market?
5. Is it possible that elementary education produces a public good but higher education does not? Explain.
6. We said that an uncrowded country club golf course has aspects of a public good. Why? Is it still a public good if it becomes crowded and people's games are slowed down.
Comment on the statement. Do you agree with the speaker? Explain. Use a graph to illustrate the answer indicating the firm's short-run cost structure
Describe the revenue, costs, and profit that Starbucks expected when it entered this market.
Consider two firms X and Y that produce identically tasting cold drinks. In order to raise the demand for its cold drink, firm X raise its advertisement outlay.
What can the company do to improve its overall compensation, benefits and professional development practices to enhance the staff's overall effectiveness in meeting the mission and needs of the company?
When developing short-run cost curves, it is supposed that all firms in perfect competition have the same cost curves and they all make identical short-run profits or losses.
What are some of the ethical dilemmas encountered by traders in their pursuit of profits for both their company and themselves?
Employ the following equation to demonstrate why firm producing at the output level where MR=MC will also be capable to maximize its total profit.
Functions monotonic transformations? You can determine it by drawing a graph or calculating their derivatives. Assume u > 0 throughout.
Firms like Papa John's, Domino's, and Pizza Hut sell pizza and other products which are differentiated in nature. While numerous pizza chains exist in most locations, the differentiated nature of such firms products permits them to charge prices a..
The Medicare Payment Advisory Commission recently voted to suggested to Congress to institute a set of pay for performance incentives for providers serving Medicare patients.
Explain the effects of the $26 a week increase in the minimum wage on the workers' surplus and the firms' surplus. Has the labour market become more efficient or less efficient? Explain and show the welfare measurement analysis in the graph.
Explain and discuss the differences between private goods, public goods, natural monopolies, and open-access goods.
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