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A company is trying to predict the long-run market share of a new men's deodorant. Based on initial marketing studies, they believe that 35% of new purchasers in the market will ultimately try this brand. They believe that customers will purchase their brand about 40% of the time in the future. Preliminary data also suggest that the brand will attract heavier-than-average buyers, such as those who exercise frequently and participate in sports, and that they will purchase about 15% more than the average buyer. a. Calculate the long-run market share that the company can anticipate under these assumptions. b. Develop a general model for predicting long-run market share.
The demand for good x1 is given by: (m/p1) - (p1/p2), where p1=1, p2=1, and m=10.Which of the following accurately describes the INCOME elasticity of demand?
Explain how incomplete information can cause market failure. Give at least one example of this type of market failure and explain how government intervention has been used to correct the problem. How effective has this form of intervention been? Use ..
q.given yues utility function u xy 10x 7ynbsp1.is mrsxy diminishing constant or increasing as the consumer
What is rent seeking and how does it differ from the kinds of profit maximization and profit seeking that we discussed in previous chapters?
assume that the total value of the following items is 780 billion in a specific year for upper mongoose net exports 50
Think about a product that you have purchased recently (e.g. soda, diapers, takeout meals, milk, shoes, manicure/pedicure, video game, etc.). Explain how the law of demand affected your purchase. Give specific examples of how the determinants of dema..
There is an asset demand for money because households and business firms use money as a store of value. What are some other reasons that households and business firms hold money?
Explain how scarcity affects the following decision-makers: The president of the United States A business executive A city manager The mother of a baby.
q1. besides elections and campaigns do the major political parties influence public values and ideas? do you think
How does the global economy connect American car buyers and Russian bureaucrats? One person who can answer is Reg Modlin, an emissions specialist at DaimlerChrysler AG's U.S. unit. Mr. Modlin, like many other auto-industry executives worldwide, has s..
Suppose that Iggi and Kurt begin trading ice cream and waffle cones with each other. Elucidate price of waffle cones (in terms of ice cream scoops) would benefit both Iggi and Kurt and make both individuals willing to trade.
Provide examples of two industries with different time frames for the short run. Clarify why this is the case.
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