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Q 1. Assume that, for a particular demand curve, when price rises from $50 to $60, total revenue falls from $8,750 to $7800.
a. Based on this information, what is the quantity demanded at each price. b. Without calculating the coefficient of elasticity, is demand over this range elastic or inelastic? How do you know? Q2. Provide a simple definition of the price elasticity of demand and explain why knowing the price elasticity for her product is useful to the firm''s manager. Q3. A car dealer wants to get rid of the stock of last year''s model. Assume that the dealer knows from past experience that the price elasticity of demand for cars is unitary (= 1). If the price of the cars is currently $20,000 and the dealer wants to increase the quantity demanded from 30 units to 50 units, what must the new price be if the dealer is to sell the 20 additional cars? Explain and Show your calculations.
Q4. Assume an analyst has been hired to estimate the price elasticity of demand for hamburger (which sells for about $2.30 per pound) and filet mignon (which sells for about $20 per pound), respectively. Considering the different determinants of the price elasticity of demand, which item on the menu would you expect to have larger price elasticity of demand? Explain.
How many dinners per month must Genos serve to break even - geno presently spends nothing on marketing. If Geno spent $30,000 on advertising a year, what would the breakeven number of dinners per month be then
Prepare a Marginal Cost Analysed Income Statement for 2014 from the above data to identify total and individual medical procedure contributions and profits.
Answer the questions show all work for your answers; be complete; but, concise with your analysis. If you wish to elaborate on your calculations for the ratios, please do so
question 1a what are the profit-maximizing price and output levels? explain them and calculate algebraically for
From the second e-Activity, assess the marketing and pricing strategies, for example rebates, to determine the goal(s) of the marketing and pricing strategies for one of the companies you researched
Explain how the short-run Phillips curve, the long-run Phillips curve, the short-run aggregate supply curve, the long-run aggregate supply curve, and the natural rate hypothesis are all related
Computing expected rate of return, required rate of return on a stock. Assume Walmart stock currently sells for $30 per share. The stock just paid a dividend of $0.75 per share.
Assess the current environmental scan factors that are relevant to the decision making process. Determine the factors that will have the greatest impact on pl
A company under monopolistic competition faces the demand curve: P = 500 - 12.5Q. The company's marginal cost is MC = 200 + 5Q.
Determine which ones should be chosen Explain your recommendation - Using a B/C method for evaluations,
Suppose you are the manager in a market comprised of five companies, each of which has a 20% market share. In addition, each company has a strong financial position and is located within a 100-mile radius of its competitors.
In the shareholder wealth maximization model, the value of a firm's stock is equal to the present value of all expected future ____ discounted at the stockholders' required rate of return.
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