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Determining Pricing
The Burrito Barn is considering a price reduction on the Firegut Burrito, which currently sells for the price of $5.00. Giuseppe, the proprietor of Burrito Barn, knows the price elasticity for the Firegut is roughly equal to -2.3 over the range being considered for the price change. The Firegut has been selling at the brisk pace of 500 burritos per week. To increase market share, Giuseppe would like to increase sales to 750 per week. What price should Giuseppe set?
Mention and describe the three theories for why the short-run aggregate-supply curve is upward sloping.
Explain why competitive markets normally lead profit maximizing firms to make choices about resource use that lead to an "efficient" allocation of resources to the market?
Media Corp. has determined that its customer base is divided into two groups: sports fans and news junkies. There are one million sports fans and one million news junkies.
A symetric information can have deleterious effects on market outcomes. Discuss a few tactics that managers can use to overcome these problems.
Consider the following data on US GDP-What was the grwoth rate of the GDP deflator between 1999 and 2000?
Given the following predictions for nominal wage increases and productivity growth, state your forecast for inflation (assume this is all the information available to make the forecast).
Describe the neoclassical theory of economic growth. Then explain how the neoclassical theory is impacted by research about endogenous technological changes and increasing marginal returns.
You are the manager of a firm that manufacturers front and rear windshields for the automobile industry. Due to economies of scale in the industry
Consider the problem of the book assuming that the utility is Cobb-Douglas (U (C, l) = C α l β )
skills are required for current also future employees to possess for the organization to be successful
What is value added in every sector also what is total output for the economy.
Construct a table showing the marginal failure reduction (in units) and the dollar value of these reductions for each inspector hired.
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