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You compete with many firms offering similar products (monopolistic competition). An economic consulting firm has estimated the own-price elasticity for your most profitable product is -1.50. Your marginal cost is constant at $75 across most of your production volume capability. What price will maximize profits? Show the computation. 2. Define the 3 types of price discrimination and explain why 1st degree discrimination is very difficult to practice. Provide 1 example where a form of 1st degree discrimination is practiced. 3. Complete and label the diagram showing the numbers of seats sold and price for leisure and business passengers. Answer the following questions:
a. If the price of fuel increases modestly, will fares increase?
b. Are all seats sold? If not, wouldn't the airline make more money by selling more seats at a lower price?
4. Explain the conditions necessary for a firm to practice 3rd degree price discrimination and using airline conditions as examples.
5. Wall-Mart offers to match the price of any competitor. Why is this guarantee not necessarily a benefit to consumers?
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What topic or topics of interest have you found at the Markkula Center and can you apply one, two or all three moral theories to the cases?
Evaluate the design elements of the data tables from an accounting perspective. Create an entity relationship diagram illustrating the existing data tables.
You are the manager of a firm that receives revenues of $40,000 per year from product X and $90,000 per year from product Y.
you are a new physician setting up your own practice in a new town. you are researching the different mcos offered in
In the 1970s, the United States experienced periods of severe gasoline shortages due to OPEC policy and unrest in the Middle East. The price of gasoline increased as a result of these shortages.
You are the manager of a large automobile dealership who wants to learn more about the effectiveness of various discounts offered to customers over the past 14 months. Following are the average negotiated prices for each month and quantities sold ..
This price reduction would also increase sales to 220,000 units during the relevant years. a) Make the decision tree. b) What is the optimal strategy for the monopolist?
At the central furniture company, consumers who buy on credit pay an effective annual interest rate of 16.1 percent, based on monthly compounding. What is nominal annual interest rate that they pay?
Economic fluctuations (or business cycles) are fluctuations in the level of economic activity, relative to a long-term growth trend. Comparing and contrasting the economic fluctuation the United States has experiences from 1990 to current date.
the price level and the money supply over the business cycle both in terms of correlation, magnitude and lead vs lag. Give the economic intuition of the results on consumption, investment, productivity, wages and price levels.
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