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Many service industries such as restaurants, night clubs, movie theatres and hair dressers experience much higher demand during weekends compared to week days. Explain a pricing strategy which would increase profits compared to a single price profit maximizing strategy. Be sure to include a graph which explains your demand, marginal revenue, and marginal cost.
Explain the following statement: "Changes in disposable income lead to movements along the consumption function while changes in wealth lead to a shift of the consumption function." Use examples to illustrate your response.
Assume the airline industry consisted of only 2 firms: American and Texas Air Corp. Let the two firms have identical cost functions, C(q) = 40q. Suppose the demand curve for industry is given by P = 100 - Q and that each firm expects the other to ..
Social Dynamo Corporation earned profits last year of $49 million on sales of $500 million. During the same period, its major competitor - EIO Corp.- enjoyed sales of $490 million and earned profits of $52 million.
Based on the Law of One Price, what is the equilibrium nominal exchange rate between the U.S. dollar and the euro? What is the equilibrium real exchange rate between the U.S. and Europe.Describe how an arbitrageur could profit from this situation.
What is Country A's GDP - What is the composition of GDP by percentage and what is the GDP per capita
1. change in quantity of hybrids divided by change in in price of gas 0.25 and change in quantity of suvs divided
Amaranda and Bartolo consume only two goods, X and Y. They can trade only with each other and there is no production. The total endowment of good X equals the total endowment of good Y. Amaranda's utility function is U(xA, yA) = max{xA, yA}
For the argument in favor of state subsidies, draw (by hand is OK, but make sure it's neat) a supply and demand diagram that shows the positive externality, the effect of the subsidy, the market outcome, and the socially optimal outcome.
How can we curb emissions without, at least less, hurting our economy? How can we get other countries to curb their emissions as much as we do? What about developing countries that have horrid air quality, but can't afford to do much about it?
However, because the market is so new, reputations for quality have not yet developed, and consumers cannot tell the quality difference between an Ajax digital and a Knockoff digital just by looking at them.
Outdoor Sports Corporation, with its main office in Iowa, is considering opening a branch office in Los Angeles. Under normal economic conditions, which have a 45 percent chance of occurring,
In output markets, the elasticity of supply tends to be 'positive'.Is it because supply curve is positive? then the elasticity of demandtends to be negative by same logic?
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