Reference no: EM131381361
1. Suppose the demand for sunscreen (X) has been estimated to be ln Qx = 5 - 1.7 ln Px + 3 ln S - 3 ln Ay, where S denotes the average hours of sunshine per day and Ay represents the level of advertising for good Y.
a. What would be the impact on demand of a 5 percent increase in the daily amount of sunshine?
b. What would be the impact of a 10 percent reduction in the amount of advertising toward good Y?
c. What might be good Y in this example?
2. The demand for company X's product is given by Qx = 12 - 3Px + 4Py. Suppose good X sells for $3.00 per unit and good Y sells for $1.50 per unit.
a. Calculate the cross-price elasticity of demand between goods X and Y at the given prices.
b. Are goods X and Y substitutes or complements?
c. What is the own price elasticity of demand at these prices?
d. How would your answers to parts a and c change if the price of X dropped to $2.50 per unit?
3. Your firm's research department has estimated the elasticity of demand for toys to be -0.7. As the manager of a local chain of toy stores, determine the impact of an 8 percent increase in toy prices on your total revenues.
What strategic initiatives would you recommend to sigma
: Case: Sigma Marketing, This case reviews the growth of a small, family-owned business, from a regional provider of generic printing services to a global provider of specialty advertising products. What strategic initiatives would you recommend to S..
|
Explore the online exhibit about the 1911 triangle
: Explore the online exhibit about the 1911 Triangle Shirtwaist Factory fire by clicking here. After reading the story of the fire and reading several of the interviews of survivors, conduct a search online for information about sweatshops in the 21..
|
Identify a good that you believe meets
: Identify a good that you believe meets the criteria for an inferior good. Is this good an inferior good for all income levels or is there a range of income where it is a normal good?
|
Write the total revenue function of the firm
: A. Write the total revenue function of the firm. B. Suppose the cost of producing commodity A is cA=10qA^2. Please write the marginal cost of commodity A (mcA).
|
Increase in the daily amount of sunshine
: 1. Suppose the demand for sunscreen (X) has been estimated to be ln Qx = 5 - 1.7 ln Px + 3 ln S - 3 ln Ay, where S denotes the average hours of sunshine per day and Ay represents the level of advertising for good Y. a. What would be the impact on ..
|
Delineate the positive outcomes from the two case studies
: HA425:Assignments are designed for you to show your understanding of the unit materials. Make references to lesson materials, researched material, and Seminars as needed, using APA format. Compose your responses using Standard American English as ..
|
Why is engineering notation common than scientific notation
: In the field of electronic engineering, why is engineering notation more common than scientific notation? Which notation do you find is easiest to work with and why?
|
Check the assumptions and conditions
: We can consider these data to be a representative sample of all months. There is no evidence of a time trend (r = 0.07)
|
Higher wage societies to china and other
: Explain why "outsourcing of jobs" from the U.S. and other higher wage societies to China and other "lower wage societies" related to the factors of long-term growth discussed in the textbook.
|