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1. Your company's competitors has lowered it prices by 20%. Your staff economist has estimated that the the cross price elasticity between your product and the competitor's product is -1.2. The boss wants to know how this will affect your companies revenues (sales)?
2. The income elasticity for your companies product A is 0.5; for product B he income elasticity it is 1.2; and for product C the income elasticity is -1.2. The country is in a recession and personal income is forecasted to fall by 2.2%. What is the forecasted revenue (sales) impact on product A, B and C, respectively. Which product would do the best (by sales growth) by how much and why?
3. Your boss wants to increase total revenue by 15%. Your staff economist has estimated that the price elasticity is 0.8. Should the company raise or lower its prices and by how much to affect a 15% revenue increase?
Use the classical model and the quantity theory of money to predict how each of the following shocks would affect the real wage rate (W/P), the real interest rate (r), real aggregate income (Y), and the price of goods and services (P) in a closed ..
From the following information, find the marginal propensity to consume, compute the expenditure at each level of GDP, and find equilibrium GDP:
There have been increasing debate on the merits and demerits of the job specialization. Most of its proponents have argued that job specialization have a positive impact to any organization or firm especially on increased labor productivity.
What is the difference between symmetric and asymmetric multiprocessing?
1) Write down expressions for the average cost function, marginal costfunction, and average variable cost. 2)What is the level of output that yields the minimum average cost of production?
A monopolist faces the demand curvep =11 - Q , where Q is measured in thousands of units. What is the monopolist profit maximizing price and quantity? What is the profit?
In relation to ITUNES music store, besides variable pricing, what are some other potential pricing policies that could increase revenue What are the risks and potential costs of implementing more sophisticated pricing schemes for the downloaded mu..
Describe why the general level of wages in high in US and other industrially advanced countries. Determine the single most important factor underlying the long run increase in average real wage rates in the US
What is a rating for the amount of data that can be sent over a network in a period of time?
Explain the difference between saving and investment as defined by a macro economist. Which of the following situations represent investment? Saving? Explain.
the effects of the following government policies on the market equilibrium. Increases in the Minimum Wage Restrictions on International Trade Pollution Controls Natural Monopolies and Antitrust Regulation. What is the purpose of the policy.
Suppose the firm decided to lease the large factory, and has put down a non-refundable deposit of 4,000 for that factory. Provide a recommendation concerning which factory firm should lease, and the number of boxes of chalk it should produce.
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