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Your business currently has two customers with the following individual demand curves:
Customer One’s Demand Curve: P = 10 -2Q
Customer Two’s Demand Curve: P = 20 – 2Q
Your company is trying to decide whether to raise the price of your product from $$7.5 by $0.50 or lower it by $0.50. Given the above information what would you recommend if the sole goal of your firm is to increase the total revenue?
a. The firm should increase the price by $0.50.
b. The firm should decrease the price by $0.50.
c. The firm could increase their total revenue if they increase or decrease the price by $0.50 from its initial price level $7.5.
d. The firm should maintain its current price.
The data contained in the following table shows the tradeoffs that occur in an economy that produces only two types of products: pharmaceutical and computer-related technological products. Use the data given in the table to graph the production po..
The government provides national dental insurance benefits for all U.S. citizens that cover 100% of the cost of all dental services. There are two effects of this policy. First, there will be an increase in the number of consumers of dental servic..
Suppose the elasticity of deamnd for cereal is 1.If cereal increases in price by25%, how much will the quantitiy demanded decrease by?
Consider a firm with total short-run cost function C=a+b.Q. New legislation means that it should pay an environmental tax which is the fixed sum, independent of whether it produces any output.
Starting with the estimated demand function for Chevrolets given in Problem 2, assume that the average value of the independent variables changes to N=225 million, I =$12,000, P= $10,000 P= 100 cents, A=$250,000 and P=O
Total liabilities and stockholders' equity $200,000 $210,000 Instructions (a) Prepare a horizontal analysis of the balance sheet data for Conard Corporation using 2011 as a base. (b) Prepare a vertical analysis of the balance sheet data for Conard Co..
One additional advantage Microsoft has is its ability to create a variety of Vista products, some of which have more features than others. Does it make sense for Microsoft to differentiate its product into basic and ultimate Vista editions
Ipads and laptops are substitutes. Use a supply and demand to show what happens to price, quantity, consumer surplus, and producer surplus in the market for laptops (after a technological advance has reduced the cost of making Ipads).
In attempt to increase revenue and profits, a firm is considering a 4 percent increase in price and an 11 percent increase in advertising.
Discuss why it would cost Pete Sampras or Venus Williams more to leave the pro tennis tour and open a tennis shop than it would cost a coach of a tennis team to do so.
Discuss the main factors (supply and demand) affecting the current price of gasoline. Include at least two supply and two demand.
What is the maximum amount of harvest that can be sustainably achieved in this system? What level of biomass generates this amount of harvest?
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