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1. Estimate the demand for your vehicles using variables provided, you might also derive data from other resources and combine with the dataset. Choose the best model.
2. Forecast the demand for the "economy" vehicles in Week 30.
3. Suggest a specific rate that we should charge for the "economy" category to maximize revenue. How many vehicles do you expect to be rented at the suggested rate? Do we need to worry about increasing our fleet if we follow your demand forecast?
4. Our customers who choose to keep a car for an extra day are currently paying the same base daily rate. Do you see any potential in exploring alternative schemes? If so, what changes should we implement-shall we change the price for extra days? What considerations are involved in this decision? Provide your thoughts on this issue.
5. What other issues or news you would pay attention to adjust your price and managerial strategies?
The Zinger Company manufactures and sells a line of sewing machines. Demand per period (Q) for a particular model is given by the following relationship: Q = 400 - .5P
Describe the cutthroat competitors reasons for not increasing or decreasing his price, thereby accounting for the kink in his demand curve.
Discuss the current monopoly to provide a brief overview of the company. How did the monopoly arise? Did the monopoly increase barriers to entry? Does the company behave like a monopoly or more like a competitive firm?
Is energy efficiency the same thing as economic efficiency and under what circumstances would the energy-efficient automobile described here be economical efficient?
Discuss why a monopolist should lower its quantity relative to the perfectly competitive market to maximize profits. Make sure to elaborate employ examples.
Draw a graph of the market for chewing gum. What are the equilibrium price and quantity? Mark the equilibrium price and quantity in the graph.
Determine the long-run marginal cost function for electricity generation and determine the short-run average variable cost and marginal cost at the output level in Part (d)
Why might some people claim that the breakfast cereal industry is monopolistically competitive but that the automobile industry is an oligopoly? In both cases, about eight to ten firms dominate the industry.
Draw the diagram showing the cost structure of price taker and a market price well above minimum average cost. Given that any firm is price taker, how can a firm capture any economic rent (profits in excess of opportunity cost of capital)?
If the price elasticity of demand for gasoline is 0.3, and the current price is $1.20 per gallon, what rise in the price of gasoline (in cents or dollars) will reduce its consumption by 10%? please explain.
Calculate the change in deadweight loss if the U.S. replaces a prohibitive tariff per unit on imported wine by an equal production subsidy per unit of wine sold by U.S. producers.
The Principal can invest in monitoring to improve the precision of the performance measure,according to the monitoring technology
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