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You are in a meeting about the price strategy to adopt for a product your firm is about to introduce into a new market. Jack says, “We should use price skimming.” Jane says, “We should use penetration pricing.”
a. What assumption is Jack making about the dynamics of price elasticity?
b. What assumption is Jane making about the dynamics of price elasticity?
c. How might you decide between the two alternatives?
We see that monopolist internalize the effect of its production on prices, which leads to a contraction of output. Explain why giving the monopolist flexibility to employ nonlinear pricing schemes can undo this problem?
What warnings would you give forecasters in using statistical demand equations for estimating consumer demand? How can the problems associated with using static equations in a dynamic world best be dealt with? Elaborate.
Is this projected outcome consistent with the law of demand? What is the price elasticity of demand associated with this pricing decision? Should you increase the price?
Assume that there are 10 firms in the oil industry producing a specific type of processed petroleum. Given the price P, how much will each non-cartel firms produce? i.e. what is (q1 q2 q3 q4)? Using the optimal rule MR=MC, find the optimal quantity p..
Describe the Discretionary and Non-discretionary Fiscal Policy you would advise
By what percentage would GDP be boosted if the value of the services of stay-at-home spouses were included in GDP? %
Specific assets can create problems for a company. If a supplier invests in new machinery to deliver a part useful only to its biggest and best customers, it can find itself with:
Three-year property class type equipotent bought for $30,000 is being disposed of $20,000 at the end of three years. The company is at a 35% tax bracket. Compute the tax consequence, if any for this equipment.
Demand for sporting events is uncertain, and depends on the quality of the match, as well as on unpredictable events, like the weather. Elucidate how would you price these two events differently.
Find the Nash equilibrium of this Bertrand game and find the equilibrium output and profit for each firm.
Suppose that Poland had exports of $100 billion in 2014 and imports of $150 billion. What was its net capital flows in that year? Give two examples of transactions that are part of the net capital flows of Poland, and indicate whether they enter the ..
q.mcdonalds add a new tastes and products to menu boardsrecently mc donalds announced the launch of its new tastes menu
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