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The Einstein Bagel Corp. offers a frequent buyer program whereby a consumer receives a stamp each time she purchases one dozen bagels for $5. After a consumer accrues 10 stamps, she receives one dozen bagels free.
This offer is an unlimited offer, valid throughout the year. The manager knows her products are normal goods. Given this information, construct the budget set for a consumer who has $150 to spend on bagels and other goods throughout the year. Does Einstein’s frequent buyer program have the same effect on the consumption of its bagels that would occur if it simply lowered the price of one dozen bagels by 3 percent? Explain.
If the government knew the cost of reduction for each firm, what reductions would it impose to reach its overall goal What would be the cost to each firm and the total cost to the firms together
Describe why personalized pricing or 1st degree price discrimination is g enerally more profitable than menu price. Why, if this is the case, do companies use menu pricing?
Consider an economy composed of identical individuals who live for two periods. These individuals have preferences over consumption in period 1 and 2 given by U = (c1)0.5 × (c2)0.5. They receive an income of 100 in period 1 (young) and 20 in perio..
Martha is preparing for exams in economics and sociology. She has time to read 40 pages of economics and 30 pages of sociology. In the same amount of time she could also read 30 pages of economics and 60 pages of sociology.
At present, U.S. railroads own about 595,000 railcars and lease an additional 717,000. The demand for rail freight services has increased markedly in recent years as the booming ethanol industry has sought rail transport of raw ingredients, by-produc..
The demand for energy in the United States is often stated as persistently non-cyclical and not sensitive to both prices effects. Given such characteristics, explain the effect of each of the following on the demand or supply for gasoline.
What impact would you expect each of the following events to have on business cycles? Label each as a demand-side or supply-side shock. What economic policy changes might you expect in response to each of these events?
Provide the Gilbert's choices of both Bordeaux and yogurt under the following circumstances (Consider each separately):
1) If the desired level of investment spending (I) is greater than the level of national savings (S), are net exports (NX) positive, negative, or zero? Explain the connection between I, S, and NX (in words as well as mathematically).
Using Minitab estimate the expected value of its profits and standard deviation of profits and calculate the expected value of returns of stock A & B
What is the Marginal Rate of Transformation between sugar and tea?
If a country is currently producing 11 units of health care and 16 units of education. what is the opportunity cost of producing 5 more units of education?
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