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While there is a degree of differentiation among general merchandise retailers like Target and Kmart, weekly newspaper circulars announcing sales provide evidence that these firms engage in price competition. This suggests that Target and Kmart simultaneously choose to announce one of two prices for a given product: a regular price or a sale price. Suppose that when one firm announces the sale price and the other announces the regular price for a particular product, the firm announcing the sale price attracts 50 million extra customers to earn a profit of $5 billion, compared to the $3 billion earned by the firm announcing the regular price. When both firms announce the sale price, the two firms split the market equally (each getting an extra 25 million customers) to earn profits of $1 billion each. When both firms announce the regular price, each company attracts only its 50 million loyal customers and the firms each earn $3 billion in profits. If you were in charge of pricing at one of these firms, would you have a clear-cut pricing strategy? If so, explain why. If not, explain why not and propose a mechanism that might solve your dilemma. (Hint: Unlike Wal-Mart, neither of these two firms guarantees "Everyday low prices.")
Develop a response that includes examples and evidence to support your ideas, and which clearly communicates the required message to your audience. Organize your response in a clear and logical manner as appropriate for the genre of writing. Use w..
Given the table of marginal utilities for CD's and century books, calculate the optimal quantity and total utility at equilibrium. Draw Sarah's budget line for part a and her budget line for part b on the same graph.
Illustrate what would this typical basket have cost in the base year.
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Assume that the payouts of the game were changed (if necessary) such that it results in gamblers having a positive expected value.
During the late 1980' and early 1990's, economic reforms initiated by Soviet President Mikhail Gorbachev began to raise consumer incomes; but the Soviet government continued to impose price ceilings on basic goods like food, clothing and household..
How much have prices risen between 2000 and 2010? Compare the answers given by the Laspeyres and Passche price indexes.
An analyst is trying to determine the net social benefits generated by the city's public swimming pool. At the current admission price of $1.00, 400 individuals visit the pool annually. The total cost of the pool is $800 annually. Thus, the pool r..
An analyst created reformulated balance sheets for the yeas 2007 and 2006 as follows, Compute the free cash flow for 2007.
Assume that there are many countries capable of producing two goods, and that each country has only one factor of production, labor.
According to law of comparative advantage , who should produce wheat and who must produce Cd palyer? Evaluate all relevant opportunity cost.
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