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1. Price elasticity of demand is an important tool for managers in in a selling environment in deciding what to put on sale. Assume you are the District Manager of a grocery chain which sells everything like Ralphs or Albertsons. What will you put on sale in your district during the Valentine's Day week? You must provide your reasons. 2. As a Manager, your goal is to maximize profit of your business. Assume you are in charge of managing your company's costs - you are the Controller of Accounts and all purchases must be approved by you. With appropriate examples, illustrate how you and your Division will contribute to maximizing profit of your business.
Think a small open economy with a fixed exchange rate system. Assume there is a general expectation that central bank will revalue the domestic currency in the future
Find out the firm's optimal quantity, price, and profit (1) by using the profit and the marginal profit equations and (2) by setting MR equal to MC. Also provide a graph of MR and MC.
The market demand function of a company is given by 8P + Q - 64 = 0, and the company's average cost function takes the form AC = 8/Q + 6 - 0.4Q + 0.08Q2.
Identify which of the determinants of demand or supply are affected and also indicate whether demand or supply increases or decreases.
Many stocks and alternatives awarded or charged to CEOs are not indexed to either industry average or to market-wide averages
Your firm sells a very popular children's game. As the manager, you have received information that another firm is thinking about introducing a similar game. You have the following facts:
what happens to the AFC per paper, the MC per paper, and the minimum amount that you must charge to break even on these costs?
Explain how GDP would return to equilibrium if it was above or below equilibrium GDP. Whenever there is change in spending, there will be a change in real GDP. Explain why this is so.
Why do you think firm 1's marginal cost is lower than firm 2's marginal cost? Determine the current profits of the the two firms. What would happen to each firm's current profits if firm 1 reduced its price to $6 while firm continued to charge $8?
Depict an isoquant map depicting a typical firm's use of two inputs - white and black labor. Label its slope. What would be the effect of an increase the price of black labor from $12 to $13 and a decrease in the price of white labor from $13 to $12..
Name some areas of business in the United States where the prevailing market structures have changed dramatically in last 20-years and discuss the direction of change
Evaluate the impact of the proposal to cut prices and what is the optimal profit-maximizing markup suggested by economic theory?
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