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The Economist magazine offered the following two options for subscribing:
1. $56 per year for an online-only subscription2. $125 per year for print plus online access subscription
A large majority of subscribers chose option 1. But the magazine would have preferred to sell more $125 subscriptions because it can charge higher rates to advertisers in the print magazine than it can online. The magazine decided to rely on insights from behavioral economics to try to increase the number of people choosing the $125 subscriptions. It began offering the following three options:
1. $56 per year for an online-only subscription
2. $125 print plus online access subscription
3. $125 print-only subscription A large majority of subscribers now chose option 2 rather than option 1. What insights from behavioral economics that were discussed in this chapter can help explain this result?
A user has the utility function U(x1,x2)=min{x1,2x2}, and his endowment is W=(0,12)
Pick a good or service you are familiar with. Speculate how the price for that good or service may have been set and how well this price maximizes profit for the company and determine what shifts the company should make in its pricing strategy.
Gross investment is the?
you are the manager for dunkin donuts and know the following elasticitiesnbsp? 1.5 ?nbspinbsp 1.2 ?nbspxy1nbsp 0.5
Suppose demand function has changed t0o Qd2 = 14-P. Find the new equilibrium price and quantity?
Suppose two firms supply the market for computer chips and their products are perfect substitutes. The firms choose what quantity to produce independently, i.e. compete as Cournot. The market inverse demand is described by p = 120-20Q, Q measured in ..
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you must give up your full-time job which paid 50000 per year and you worked part-time for half of the year.the average
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Your ethical code of conduct plan which will be incorporated into your company's international BUSINESS EXPANSION plan
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..
consider a perfectly competitive market with an infinite number of firms. each firm has ltbrgtthe following long-run
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