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Your company's executive vice president circulates a memo to the firm's top management in which he argues for a reduction in the price of the firm's product. He says a price cut will increase the firm's sales and profits.
As the head of marketing you respond with a memo pointing out that the price elasticity of demand for the firm's product is about -0.5. Why is this fact relevant?
The firm's president concurs with the opinion of the executive vice-president. Is he correct?
Describe how a firm in a Monopoly market maximizes its profits and minimizes its losses in the short term and in the long term. Can a Monopoly make a profit in the long term?
A monopoly with a more elastic demand curve will have more market power and monopolist can earn positive profits in the long run because it has market power
According to scientific nutritional studies in most nations, income of $1 a day does not provide sufficient food, shelter and clothing to live. Under these situations the medical risk of death is high.
Write down a five paragraph introduction detailing the purposes and activities of the organization. Consider whether there're any groups opposed to them and why.
The information technology field is very competitive, and a large information technology company has employed the bank for guidance. companies may have to compete for high quality IT professionals.
Assume marginal cost increases to 25 as a result of imposition of a tax. What takes place to monopoly and competitive price and output?
Explain the impact of external costs and external benefits on resource allocation; Why are public goods not produced in sufficient quantities by private markets? Which of the following are examples of public goods (or services)? Delete the incorrec..
Compute the opportunity cost of an increase in the number of hours spent studying in order to earn a 3.0 GPA rather than a 2.0 GPA. Find out opportunity cost of an increase in income from $100 to $150.00
In the imperfect competitive market of jeans, Lean Jeans, Inc., recently offered rebates of $1 off the regular $50 price. Quantity sold jumped 4 more jeans from the previous 100 figure the previous month.
Evaluate price elasticity of demand
Illustrate and fully describe using an example of relevant cost (a cost whose value does affect the optimal decision) and an example of irrelevant cost (a cost whose value does not affect the optimal decision) to the business regarding this decisi..
If the government imposes a $1 per-unit tax, how do the marginal, average total, and average variable costs change? What if instead the government imposes a $100 per-firm tax?
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