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Yuen, a travelling salesman for snake oil, can produce the stuff at a marginal cost of 1. There are 100 potential customers in Vernon, each of whom has the following demand function for snake oil: P = 2 - y. The trouble is that none of the customers have any idea that Yuen is in town. The solution to his problem is, of course, advertising. The local radio station has explained to Yuen that their research shows that the probability that his message gets through to any one of the customers is [1 - 1/(1+A)], where A is the amount he spends on radio advertising.
a. What is Yuen's profit function?
b. What are the profit maximizing values of P and A?
Impact of government legislations on business in india Government in India plays a dominant role in the Indian business activity. It directs and regulates the private business and
Arc Elasticity of Demand - Arc elasticity calculates elasticity over the range of prices - The formula of it is: * Arc Elasticity of Demand: An Example
Value Added:Value added in a particular stage of production equals value of total output, less the value of intermediate products (comprising raw materials, capital equipment and o
Define structural isomers and its types Coordination compounds that having same compositions but the different bonding attachments. Types of structural isomers Hydration isomers
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Product Markets: Markets where produced services and goods are bought and sold (distinguished from markets for factors of production). Production: Process by which human labour
info about Inorganic chemistry
using ? tools of economic highlight on comsumption
Rationale of Group Project Group project allows you to pursue authentic learning with your peers, and to apply theories taught in class and textbooks to real world situations.
use a graphical illustration to describe briefly what the influence of each of the following be on the market supply of labour,(a) an increase in immigrants, (b) a reduction in wag
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