Reference no: EM131306911
1. What is the production possibilities curve and how is it useful?
2. What 4 factors contribute to determining any point in this model?
3. How would we apply this framework to the real world?
4. You are planning to expand your burgeoning business of Bill Murray themed athletic shoes that were prominently featured in the Life Aquatic with Steve Zissou (which happens to be the greatest movie of all time), and you need to determine your cost structure to ensure that you price your products properly. Rent on the new production facility is 5,000 per month. Insurance is 6,000 annually. Each T-shirt costs you 5.00 and an additional 3.00 for materials. You purchase your T-shirts by the pallet, which contains 1,000 in each. However, if you purchase 2 pallets of T-shirts at a time, then you get a 10% discount. If you purchase 2 pallets of T-shirts, then you get a 20% discount.
Construct a table of your monthly costs reflecting fixed and variable costs. Be sure to pay very careful attention to the details...
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Quantity
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TFC
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TVC
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TC
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AVC
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MC
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0
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1
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2
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3
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5. Ride hailing services utilize a dynamic pricing model. Using supply and demand tools (you don't have to actually show the graphs... but they may help you on scratch paper) illustrate how microeconomics explains the shifts in pricing and how it describes the real world scenarios of trying to get a ride at various times of the day. Be sure to consider the morning and evening commute, in addition to the weekend hours.
6. Disney World has doubled their ticket prices at their amusement parks over the last 10 years, which of the economic market models we covered explains this behavior? Be sure to take into account that competitor parks are nearby. Be sure to detail how this model works and why it fits the Disney World situation.
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Derive the equilibrium price ratio of the contingent claims
: Suppose we have an economy with 1 commodity, two possible states, and two consumers, and no trades at Date 0. Derive the equilibrium price ratio of the contingent claims contract for this economy
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Which country has a comparative advantage in each good
: Explain which country has a comparative advantage in each good. Explain what will happen to the wage/rental ratios in both countries if they open to trade.
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What are two strategies the company could have taken
: Assume Molly is incorrect in assessing the problem, and that, in reality, the buying center is exactly the same but the skills and information needed to sell the service are very different. What are two strategies the company could have taken?
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Prepare a trial balance
: ACCT1021 Introduction to Financial Accounting Assignment. Frank, a hospitality event consultant, started business on 01 May. The following is a list of transactions for the month of May. Prepare a trial balance as at 31st May 2015
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How would we apply this framework to the real world
: What is the production possibilities curve and how is it useful? What 4 factors contribute to determining any point in this model? How would we apply this framework to the real world?
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Discuss a popular national product or service
: Discuss a popular national product or service that is using integrated marketing communications effectively.Include specific examples of their promotional activities from the different promotional mix categories.
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How much of private good will george donate in equilibrium
: How much of the private good will George donate in equilibrium. What does it mean for a good to be non-excludable? In theory one may worry that such a problem could completely shut down private markets.
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Develop pricing strategies-distribution channels for product
: Develop strategies to assess performance and achieve marketing goals.Develop pricing strategies and distribution channels for products.Analyze integrated marketing communications and its relationship to advertising strategy.Evaluate marketing researc..
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Write two functions called gcd and lcm
: Write two functions called Gcd and Lcm. The Gcd function takes two positive integers as its parameters and returns their greatest common divisor. The Lcm function takes two positive integers as its parameters and returns their least common multipl..
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