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1. Estimate the demand for your vehicles using variables provided, you might also derive data from other resources and combine with the dataset. Choose the best model.
2. Forecast the demand for the "economy" vehicles in Week 30.
3. Suggest a specific rate that we should charge for the "economy" category to maximize revenue. How many vehicles do you expect to be rented at the suggested rate? Do we need to worry about increasing our fleet if we follow your demand forecast?
4. Our customers who choose to keep a car for an extra day are currently paying the same base daily rate. Do you see any potential in exploring alternative schemes? If so, what changes should we implement-shall we change the price for extra days? What considerations are involved in this decision? Provide your thoughts on this issue.
5. What other issues or news you would pay attention to adjust your price and managerial strategies?
You need to hire some new employees to staff your startup venture. You know that potential employees are distributed throughout the population as follows
In 2005, APEX received a tax credit for production of its solar panels through the US Department of Energy's Energy Efficiency and Renewable Energy procurement plan.
why is it so certain that price elasticity will cause those prices to return to levels they were at instead of staying lower based on the new technology?
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?
Discuss the potential risks of using Web 2.0 tools. Provide several examples. What are the benefits of "build-to order" to buyers and sellers? Are there any disadvantages?
Provide reasons for believing in the accuracy or inaccuracy of sensory information and discuss the roles of "nature" and "nurture" with regard to the interpretation and evaluation of sensory data.
Derive the Marshallian demand functions and the indirect utility function, and confirm that Roy's identity holds.
Calculate the price elasticity of demand for Einstein's Bagels and explain what it means. Derive an expression for the (inverse) demand curve for Einsteins's Bagels.
How much is the long-run equilibrium price? How many firms will be operating in this equilibrium? Plot two side-by-side graphs to illustrate the long-run equilibrium; one should show a typical firm in equilibiurm, the other should show the market..
Show the relationship between EV, CV, and consumer surplus using compensated and uncompensated demand curves. If you your income is $ 1million,you spend $100 on good 1, and income elasticity was 0.02, does it matter whether you use EV, CV, or consu..
Assume the economy is at short-run equilibrium and is in a slump. Ceteris paribus, what would you expect to happen to the money supply over time? Discuss in detail the money creation process in a fractional-reserve banking system.
How much will each firm produce in the equilibrium and find in the long run, consumer surplus
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