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Dakota Publishers prints coffee table photo books of the mountain states and Great Plains. The marketing manager normally prices books at $35 each, and sales an average of 4,000 per month. Last month, she had a sale and priced volumes at $22.50 each, selling 8,500 copies. Compute the price elasticity for these books. Explain how elasticity’s should be used in pricing decisions. If you were responsible for setting the price of these volumes, what would you choose and why?
1. a tariff levied as a certain amount per unit imported is known asa specific tariff.a counter tariff.a forgone
Presume that the nominal rate of interest is four percent and the inflation premium is one percent. What is the real interest rate? Alternatively, suppose that the real interest rate is 2 percent and the nominal interest rate is 6%. What is the infla..
Marsha assigned you to head up a team to get U-Build-It into e-business within two years. With her advice and approval, you decided that U-Build-It's e-business effort would not replace the existing stores, but rather would supplement them.
Should the firm shutdown immediately when the total fixed cost equals $1,000,000? Should the firm shut down immediately when the total fixed cost equals $3,000,000?
At a management luncheon, two managers were overheard arguing about the following statement: "A manager should never hire another worker if the new person causes diminishing returns." Is this statment correct
What do the behavior genetics research on family influences and the evolutionary explanation of sex differences imply about the amount of influence parental behavior has on how masculine or feminine their sons and daughters become?
Assume the following data describe the gasoline market: Price per gallon $2.00 2.25 2.50 2.75 3.00 3.25 3.50 Quantity Demanded 32 30 29 28 22 21 20 Quantity Supplied 16 20 24 28 32 36 40 (a) What is the equilibrium price?
Bargaining outcomes in a market-related situation are in general indeterminate and not obvious to the parties in the negotiation.
Draw the total market demand curve. Label the axes and intercepts. Discuss how the price elasticity of demand changes along the demand curve.
Draw a diagram showing how the market equilibrium will change if the marginal social costs of a polluting production activity are included rather than just the marginal private costs of that activity.
What did classical economists assume about the flexibility of prices, wages, and interest rates What did this assumption imply about the self-correcting tendencies in an economy in recession What disagreements did Keynes have with classical econom..
A firm sells its product in a perfectly competitive market where other firms charge a price of $90 per unit. The firm’s total costs are C (Q) = 60 + 14Q + 2Q2. What are the firm’s short-run profits? What price must the firm charge in the short run?
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