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You are the owner of a local Honda dealership. Unlike other dealerships in the area, you take pride in your "No Haggle" sales policy. Last year, your dealership earned record profits of $1.2 million. In your market, you compete against two other dealers, and the market-level price elasticity of demand for midsized Honda automobiles is -1.4. In each of the last five years, your dealership has sold more midsized automobiles than any other Honda dealership in the nation. This entitled your dealership to an additional 35 percent off the manufacturer's suggested retail price (MSRP) in each year. Taking this into account, your marginal cost of a midsized automobile is $11,000.
What price should you charge for a midsized automobile if you expect to maintain your record sales?
Instructions: Enter your response rounded to two decimal places.
Consider the labor market with frictions as in Diamond-Mortensen-Pissarides (Chapter 6). A fall productivity in that model leads to. Mutual funds that leverage (borrow money) for investment projects in securities and other lower-risk projects by pool..
Find the project's expected NPV with and without the abandonment option
The elasticity of demand for Dave's Famous is Pizza is 2.6. Dave is considering raising pizza prices by 20%. Is this a good idea? What will happen to his sales?
In a monopolized industry, the demand function has a constant elasticity: q = D(p) = p−ε where ε > 1 is the elasticity of demand. Marginal cost is constant and equal to c. (i) Show that a social planner (or a competitive industry) would yield a total..
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Economies and dis-economies of scale are demonstrated by the slope of the long-run average cost curve. Discuss the causes of economies and dis-economies of scale and diagram the appropriate areas on a long-run (with appropriate short-run) cost curve.
An economist studying macroeconomics compared data on unemployment, inflation and economic growth from past years to the current year
A one year discount bond with a par value of $5000 sold today, at issuance, for $4750 has a yield to maturity of?
Two players sequentially call numbers. First, player 1 calls either 1 or 2. Then, player 2 calls a number, such that it exceeds the previous number
A. Create an external DMZ network B. Use NAT on the web server
1) Suppose that the market demand and market supply for medical care are represented by the functions:
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