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Q1. Explain why each of the following statements are false. For each, write the correct statement.
a. A monopolist maximizes profits when MC=P
b. The higher the price elasticity, the higher is a monopolist's price above its MC.
c. Monopolists ignore the marginal principle.
d. Monopolists will maximize sales. They will therefore produce more than perfect competitors and their price will be lower.
Q2. Advertising is powerfull strategy to make people know/aware about company products and services and for this case is to emphasize reliability and low price, this effort will help the company to sustain in this area and to develop a customer franchise and brand loyalty . At the end high relative market share can be able able to reduce costs because of economies of scale.
He sold the house in 2006 for $225,0000. Which statements is correct regarding the sale of the house.
Describe the industry and explain the general pattern of change of the particular market model.
The final submission of your project at the end of the term will be a 2000-3000 word document that you will submit to outline the problem, propose your solution, and recommend implementation of your solution.
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Perform a statistical analysis of its short-run production costs to estimate its total variable cost function.
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From the e-Activity, analyze the elasticity of demand for products within the selected industry relevant to Katrina's Candies. Determine the factors involved in making decisions about pricing these products that you believe to be the most influential..
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Elucidate the opportunity costs for the manager of being in this business relative to returning to his old job. what is the economic profit of the business.
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