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Assume that you are a marketing manager for a supermarket. The accounts department provides you with different price elasticites for a variety of goods. Some products (e.g. confectionaries & cosmetics) are relatively price-elastic; other products (e.g. bread, milk & greengroceries) are relatively price-inelastic.Write a brief report (two or three paragraphs) explaining how your marketing strategies will respond to this information. Your discussion should apply the following concepts to the problem, together with any other elements of microeconomic theory or concepts that you consider relevant.• The relationship between revenue and price elasticity;• The relationship between PCM [Percentage contribution margin] and price elasticity; and importantly,• How different pricing strategies are used to capture consumer surplus.
Sales force compensation can be approached several different ways. Discuss sales force compensation, explaining each of the different ways compensation can be structured, and the advantages and limitations of each compensation approach that you sh..
Write an introduction that states the purpose of the document; the name of the fictitious company, its location, and its import strategy; and a summary of the subjects that will be covered in the plan.
Explain two different markets where has been a market disequilibrium. That is, there is a shortage or a surplus. Briefly explain the supply and demand curve.
Use method of Lagrange multipliers to find the cost function c(r,w,y). Find out the average and marginal cost. Find out the interpretation of the Lagrange multiplier in part (a)? What is the importance of term (a+b) being less than, equal to, or grea..
Is the market for coffee perfectly competitive and does the coffee market meet all six conditions of a perfectly competitive market?
List the four major areas (audience analysis; objectives and budget; issues; and research) and explain how an organization designs a program around these four influences.
You are currently charging $1 per bag of popcorn, spending $200 in advertising, charging $1 for a soda pop, and per capita income is $12,000. a. Compute the elasticity coefficients for price, advertising, income, and cross-price. b. You are curren..
If Congress wants to use fiscal policy to prevent a recession, suggest whether they should cut taxes if there is a suspicion of a recession, cut taxes when there is confidence that a recession will happen
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.
Explain how data systems are changing several aspects of the accounting profession. Include a description of a variety of new technologies and their effects on accounting processes.
Assume that instead of maximizing profit, the firm wants to maximize total revenue. Using algebra determine the optimal output, price, profit and revenue for the firm.
The manager of EverClean finds two output levels that appear to be optimal. Show what these levels of output are, and explain which one is actually optimal.
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