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Explanation to "price discrimination" question
Many restaurants offer "early-bird specials " to dinner customers. These specials consist of a significant price reduction on selected menu items purchased before some pre-determined time, e.g., 6 p.m. Is such a practice a form of price discrimination? If so, what type?
Illustrate what can you determine about consumer demand for your product from this information
Explain why both marginal and average costs are believed to eventually increase in the short run.
Explain why marginal product first rises, then declines, and ultimately becomes negative. What bearing does the law of diminishing returns have on short-run costs? Be specific.
Making dresses is a labour-intensive process. Indeed, the production function of a dress-making firm is well described by the equation Q = L - L 2 /800, where Q denotes the number of dresses per week and L is the number of labour-hours per week.
The demand scheme for the product created by a monopolist. Quantity demanded Price Total revenue Marginal revenue Price elasticity.
Explain why might intangible resources such as human capital and intellectual assets be a more likely source of sustainable competitive advantage than tangible resources.
The MorTex organization assembles garments entirely by hand even though a textile machine exists which can assemble garments faster than a human can.
Sherry was just rotated out as Microsoft's X-Box sales manager for the Canadian market. In Canada, the X-Box competes with Nintendo's GameCube.
You have been hired as a plant manager for a firm that produces widgets (Q) in Angola, Indiana. Widget production requires machine time (K) and labor time (L).
A price-discriminating monopolist of the 3 rd degree sells output in 3 different markets. Some, but not all pairs on the 3 linear market demand curves are given below.
"Most of the firms spend considerable amounts of money on advertisement". Explain advertising elasticity of demand and its practical applications in this context.
If the price of manufactured goods rises to $6 bushel (a rise of 50%), the parity price of corn as well rises by 50% - to $4.50 in this hypothetical example.
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