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According to the Polk Company, a survey of households using the Internet in buying or leasing cars reported that 81% were seeking information about prices. In addition, 44% were seeking information about products offered. Suppose 75 randomly selected households who are using the Internet in buying or leasing cars are contacted.
(a) What is the expected number of households who are seeking price information?.
(b) What is the expected number of households who are seeking information about products offered?
(c) What is the probability that 67 or more households are seeking information about prices?
(d) What is the probability that fewer than 23 households are seeking information about products offered?
Discuss the current market structure of a business you have worked for or are currently working for. How does the market structure and degree of competitiveness factor into both short-run and long-run decisions. What risks are considered? What do you..
Suppose that in a week the price of Greek yogurt increases from $5.00/lb to $5.25/lb. At the same time, the quantity of Greek yogurt supplied increases from 100,000 lbs to 125,000 lbs. What is the price elasticity of supply for Greek yogurt?
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Explain why monopolistically competitive firms frequently prefer nonprice to price competition.
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After-Tax Net Present Value and IRR (Non-MACRS Rules) eEgg is considering the purchase of a new distributed network computer system to help handle its warehouse inventories. The system costs $60,000 to purchase and install and $30,000 to operate each..
It will generate $10K per year in net revenue for 4 years, and then revenue will fall by $1K per year. What is the EAW, if i = 7%?
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