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Question 1: Of the seven principles of keeping track of your customers to bring them back, which one speaks the most to you for your business? Explain.
1. Using Figure 1 below, determine each of the following: a. equilibrium price before the tax
Explain the implications of marginal cost pricing and average cost pricing. Why are these important results in a purely competitive industry? Explain.
Describe the Diamond-Water paradox and the solution. Explain why price is greater than marginal revenue for a single-price monopolist and how this differs from perfect competition.
What goods and services are elastic and inelastic to you (and how strongly elastic or inelastic are they)?
Provide an examples of how each industry practices price discrimination. What are the short and long term strategic reasons these industries employ tiered pricing.
Refer to the information above. Which of the following represents the steady state growth rate of output per worker in this economy?
Briefly explain what do understand by the concept of Philip' curve.
Explain the difference between implicit and explicit costs. Give two examples of when an explicit cost is different from an implicit cost.
Illustrate what is the own price elasticity for ATM fees charged to non-customers.
Given a sorted array of type T that must implement the Comparable interface,write a Java generic method that finds a specific element in the array and returns it, or returns null if it is not found. Note that your algorithm must run worse-case in ..
Why is frictional unemployment is inevitable. How might the government reduce the amount of frictional unemployment
A table that shows how much of a good or service an individual producer is willing and able to offer for sale at each price in a market is known as?
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