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For decades, Britannica was regarded as the standard reference encyclopedia. As recently as in the early 1990s, the thirty-two volumes were selling for $1,600.Then came Microsoft.In 1992, Microsoft acquired the rights to Funk & Wagnall and used its content to create Encarta, a CD rich-media encyclopedia. Encarta's initial list price was $49.95.However, it was sold for even less than that to computer manufacturers who included Encarta with the computers they sold.Britannica gradually saw its market erode. By 1996, its estimated sales were around $325 million, or about one half of its 1990 sales. It decided to enter the digital encyclopedia market as well. First, it started offering on-line access at a rate of $2,000 a year. In 1995, it entered the home market with an on-line subscription of $120 per year.In 1996, the company started selling the CD version for $200.By October 15, 2001, the britannica.com site cited a list-price of $59.95 (only $49.95 after mail-in rebate) for Encyclopedia Britannica 2002 Deluxe Edition CD-ROM. The thirty-two volume set still sells for a hefty $1,295. encarta.msn.com, in turn, charges $74.95 for the Encarta Reference Library 2002.(a) Are the Britannica on paper and the Britannica on CD close substitutes? What about the Britannica on CD and the Encarta on CD?(b) What would you have done differently if you were at the helm of Britannica?(c) Can you think of other similar situations?
Total Total Average Fixed Variable Total Total Marginal Quantity Cost Cost Cost Cost Cost 0 $40 0 40 X X 1 40 55 95 95 55 2 40 75 115 57.50 20 3 40 90 130 43.33 15 4 40 110 150 37.50 20 5 40 135 175 35 25 6 40 170 210 35 357 40 220 260 37.14 50 8 40 ..
Suppose the real GDP of a country increased from 2,000 billion to 2,100 billion in one year. In the same year, population growth rate was 3%. How much was the growth rate of real GDP per capita in that year
A manufacturer of off-road vehicles is considering the purchase of dual -axis inclinometers for instalation in a new line of tractors. The distributor of the inclinometers is temporarily overstocked and is offering them at a 40% discount from the ..
At the end of that time a mild recesion slowed the development so the parties signed another contract for $190,000 per year for 2 more years. Determine the present worth of the two contracts at an interest rate of 10% per year.
Jesse sells 400 candles per month at an average price of $5 per candle. Costs of supplies to produce and sell the candles are $500. Rather than producing and selling candles, Jesse could be working at a second job earning $800 per month.
When the price of good X falls from . 10 to . 9, the demand for good Y Increase from 20 Kg. to 25 Kg. a) What is the cross elasticity of demand of good Y for good X b) Are goods X and Y compliments or substitutes
A series of 10 annual payments of $7,500 is equivalent to three equal payments at the end of years 6, 10, and 15 at 15% interest compounded annually. What is the amount of these three equal payments
Picabo borrows $1000. To repay the amount, she makes 12 equal monthly payments of $90.30. Determine the effective monthly interest rate, the nominal annual interest rate, and the effective annual interest rate
Assume that savings are invested at the end of each calendar year. Assume that during your working life you earn a return of 8% per year, and that when you retire at age 65 you move your assets into more conservative investments and earn a return ..
Assume that all other banks hold only the required amount of reserves. If First national decides to reduce its reserves to only the required amount, by how much would the economy's money supply increase.
US and Canada can both grow wheat and can do mining. Use the following table to look for which country has a comparative advantage in mining. (Hint: Find the Absolute Absolute Cost in US Cost in Canada Wheat $5 C$8 Mining $10 C$12 c..
X and Y are two random variables. The average value of X is 40,000 and X has a standard deviation of 12,000. The average value of Y is 45,000 and the standard deviation of Y is 18,000. The correlation between X and Y is 0.80.
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