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In a statement to Gillette’s shareholders, Chairman and CEO James Kilts indicated, “Despite several new product launches, Gillette’s advertising-to-sales declined dramatically . . . to 5 percent last year. Gillette’s advertising spending, in fact, is one of the lowest in our peer group of consumer product companies.” If the elasticity of demand for Gillette’s consumer products is similar to other firms in its peer group (which averages -3.5), what is Gillette’s advertising elasticity?
Every alternative has a value for bill as described in the subsequent. Illustrate what is bill's prospect cost for attending class
Linus has a utility function U( x, y,) = x + 3y. Draw an indifference curve passing through the point (x ,y) = (3, 3), then draw an indifference curve connecting ever bundle such that U = 6. What is an equation the describes Linus's budget if px= 1, ..
When firms have an incentive to exit a competitive market, their exit will. If a perfectly competitive firm currently produces where price is greater than marginal cost it. If a competitive firm’s sets its output such that marginal revenue, margi..
Calculate the over all MC for the 1st 10 units of output also Specify where each successive unit will be produced.
In each of the following situations, do you think the industry described will be perfectly competitive or not?
Europe struggled with high levels of violence that raged for most of the first half of the twentieth century. In spite of that, Europe has achieved the most advanced level of integration of any regional grouping. Discuss the problems of regional inte..
A 473-foot, 7000-ton World War II troop carrier (once commissioned as the USS Excambion) was sunk in the Gulf of Mexico to serve as an underwater habitat and diving destination. The project took 10 years of planning and cost $4 million. Assume the $4..
q1. suppose that businesses buy a total of 170 billion of the four resources labor land capital and entrepreneurial
Suppose a second firm enters the market. let Q1 be the output of the first firm and Q2 be the output of the second. What is the profits of each firm as functions of Q1 and Q2.
Consider a small landscaping company run by Mr. Viemeister. He is considering increasing his firm’s capacity. If he adds one more worker, the firm’s total monthly revenue will increase from $54,000 to $66,000. What is the marginal revenue product of ..
In the article on China holding $3 trillion in dollars, for every dollar it holds in reserves, it prints
You would like to retire 30 years from now. You will deposit an equal amount of money every month for the next 20 years into a retirement account that pays 6% nominal interest compounded monthly. You have decided that the total amount you will need..
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