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Map out how you think your potential customer goes about making his or her purchase decision for the product/service your venture will market. What are the key internal influences (e.g., motivation) and external influences (e.g., personal influences) that affect their decision to buy? Now pinpoint how you might be able to influence their decision with your marketing program.
Now, identify your two to three most direct competitors and list their key behaviors. What can you conclude about how you might best compete against these players?
If the price of coffee increases, we get a positive rate of inflation, even if no other price rises. Is this really inflation? Explain.
what effect would this change have on the wages in the two markets you illustrated in part (a)? what effect would the change have on the average wages of men and women?
On your graph, label production and consumption of cars and sugar in Home. H. Is trade beneficial to Home and Foreign.
Fit three possible statistical cost functions to the data. Use straight-line, quadratic, and cubic formulas. Discuss the statistical results you obtained in question 1. Include in your discussion R2 , the coefficients, and the statistical significanc..
Suppose a wage increase from $19 to $21 an hour increases the number of job applicants from 50 to 64. What is the price elasticity of labor supply?
Explain how does the price elasticity of demand for corn oil influence the quantity-demanded of corn oil and the Total Revenue earned by sellers of corn oil.
Describe how each of these activities affects government, households, and businesses. Describe the flow of resources from one entity to another for each activity.
Name three industries which best fit each of the three non perfectly competitive models (Monoplolistc Competition, Oligopoly, and Monopoly, and give support for your choices.
Measuring GDP The following table shows data on consumption, investment, exports, imports, and government expenditures for the United States in 2009, as published by the Bureau of Economic Analysis. All figures are in billions of dollars. Fill in the..
Investors in the JMJ Group purchased hotel resort in April. The group paid $25M for the building and the land. The land was appraised $5M. The group sold the resort 3 years later in August for $30M. The land was appraised then at $10M. If the income ..
Compute the balance in your retirement account when you will be 25, 30, 40, 50, and 65 years old assuming the average annual rate of return is 6%. Assume there are no deposits or withdrawals in this account, so the original balance just accumulates. ..
You are considering buying car insurance for the coming two years. Whether or not you buy insurance, you have the following probability distribution over the car accident damages for each year (the probability of having an accident is independent acr..
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