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Managers regularly face the choice of increasing advertising expense or reducing price to increase sales in the Oligopoly market structure. Suppose you have the following information. Current product price equal $24.00, Current sales level equal 30,000 units, The advertising department expects the next $20,000 in ad spend should increase sales by 1,000 units to 31,000 while maintaining the current price of $24.00., The finance department predicts dropping the price by $20,00 will increase sales by 3,000 to 33,000 units next year. Which action should you take next year (increase advertising or drop price)? Show your work and explain your answer. Explain the basic difference in each choice with respect to the theory of consumer demand(the demand curve).
What is regression's predicted earnings for a 25 year old worker. A 45 year old worker.
Gini & Marcoux give a discussion of Competition. They begin with a discussion of sports and move to a discussion of competition in business. What do they say are some of the similarities and differences between competition in sports and in business. ..
Consider an income support program (similar to AFDC after 1967) in which a family with no income would receive $1500 in cash benefits per month, and if the family receives income from working Y, At what income Y would benefits be eliminated? Suppose ..
Explain how a recession can be understood using the concepts of leakages and injections. Explain what Keynes meant by the liquidity trap.
Determine equilibrium in wheat market with help of graphs. If re is an increase in price of rice, illustrate what will be its impact on market equilibrium.
The United States has become a net debtor nation where the rest of the world owns more assets in the United States than the United States owns assets in the rest of the world. The United States external debt is directly caused by: Years of households..
Find an article (newspaper, magazine, or online) that discusses monetary policy. Use the article to answer the following questions. 1. The article indicates what monetary instrument(s) is/are being used by the central monetary authority? 2. Which ins..
According to the theory of purchasing power parity (PPP), what will happen to the value of the dollar (against foreign currencies) if the U.S. price level doubles and price levels in other countries remain constant? Why is the theory more suitable to..
Suppose firms become very optimistic about future business conditions and invest heavily in new capital equipment. Now use the diagram from part A) to show the new long-run equilibrium of the economy. (Assume there is no change in the long-run aggre..
Based on the lags associated with fiscal and monetary policy, which one of the two tends to be more quickly implemented? Justify your answer in one paragraph.
Incomplete information frequently lowers the average quality of products and services exchanged in markets. This phenomenon, at times called the "lemons problem," Why efficiency in markets with incomplete information present lower than in those with..
do you consider important to our overall economic health and are things getting better or worse? Please use real-world facts (i.e. statistics) to back up your answer.
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