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1. If E = .50 and you want to increase sales by 20% what percentage decrease in price do you need? E = % change in quantity demanded % change in price 2. Why did movie theatres begin charging you as “adults” at age 12? 3. If you are stuck at the end of the season with a lot of clothing and E = 2.0, what percentage decrease in price would you need to increase sales by 60 percent? 4. Why do cereal companies offer coupons that hardly anyone uses? 5. Why can airlines charge business travelers twice the price of vacation travelers? Using the four determinants of price elasticity: 6. Is the demand for last minute cruises likely to be elastic or inelastic? 7. The regional manager is concerned about price cutting by competitors. Your research suggests the cross-price elasticity is +.10. What would you tell the regional manager? 8. Why might the elasticity of demand for Honda cars be 2.0 while the elasticity of demand for cars be .80? 9. Why might consumers’ price elasticity for ice cream cones once they are in an ice cream store be .20 and their longer-term price elasticity be 1.2? 10. Why might college students’ price elasticity for vacation rentals on HHI be 3.0 while active seniors’ price elasticity be 1.0?
Illustrate what are they, and what impacts do they have on the outcomes of Keynesian countercyclical policies.
She has no accounting background. Leonard cannot understand why market value is not used as basis for accounting measurement and reporting. Explain what basis is used and why. What is importance of economic entity assumption.
Describe the difference between Economic contraction and Economic expansion
Specialty Steel has carefully measured production in its new plant to determine whether it is technically efficient in production.
What are the annual accounting costs for the firm described above? What are the annual explicit costs for the firm described above?
If total mortality among children remains constant whereas the incidence of that mortality shifted from late childhood to untimely rates of fertility declined.
With fewer also fewer barriers to trade, countries are able to focus on producing those goods also services which they are best.
Elucidate the importance of credibility when evaluating a firm's potential moves.
A corporation has ten employees, all of whom want a more pleasant work environment. Accordingly, they are considering removing litter from the grounds of plant.
List all of the possible outcomes under each of the strategies. What is the expected number of delivered (unbroken) eggs under eachstrategy.
Illustrate what greens fees should the operator set on weekdays and how many rounds will be played.
State Explain how IKEAs expansion has reenergized mature markets around the world also changed the competitive situation.
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