Define market equilibrium

Assignment Help Business Management
Reference no: EM131112921

1. The author defines market equilibrium as generating the largest possible total surpluses and being efficient when four conditions are met. What is meant by "total surpluses", and what are the four conditions that must be met? Can you name a market in which these conditions exist?

2. Critical Thinking: Let's say your company sells units of salt for $1.00 and wants to increase its revenue by raising the price to $1.20 per unit. We know, from the table on page 102, the price elasticity of demand for salt is 0.1. A member of marketing says that means if we raise price 20%, we will see a 2% reduction in sales. Is there anything wrong with this reasoning? Discuss what is right and wrong with this conclusion.

Reference no: EM131112921

Quality of work that he has delegated to subordinate

"A manager is of the view that he is not responsible for the quality of work that he has delegated to his subordinate". Do you agree with his view points? Justify your answ

Necessity in the implementation of new policies

1. Do you believe that training is a necessity in the implementation of new policies? Please support your answers. 2. Why are background checks important to information securi

What does sales follow up entail

List the steps in the selling process. -  What does sales follow-up entail? Why is it an essential step in the selling process, particularly from the perspective of relation

Organizational development services

There are a huge number of individuals and firms who are out there selling their organizational development services. Take a look at videos and/or webpages of OD consultants

Importance of training and support

Write a 3-page paper that explains the importance of training and support after software is implemented.  Describe the methods whereby training materials can be delivered to t

E-commerce business models

Complete a research paper on "E-Commerce Business Models"should 10-12 pages not including cover page and reference page(s). The research paper should be typewritten in doub

Theory and correlation of emotional intelligence

Research has been done on the theory and correlation of emotional intelligence (EI) related to organizational success and long-term sustainability of a manager/leader in his

Checkpoint-ecology and population

According to the U.S. Census Bureau's World Population Clock it states that the population in the U.S. as of 01:55 on October 10, 2009 is 307,659,604 and the world total is


Write a Review

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd