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Joe is evaluating the marketing strategy at his restaurant and inn. Suppose that in response to a $2.00 off sales promotion for spaghetti dinners, Joe finds that nightly dinner sales increase from 20 per night to 40. Normally, the dinners sell for $6.00.
a. What is the arc price elasticity of demand for Joe's spaghetti dinners?
b. Would Joe increase revenues by further reducing the price? What about profits? Explain.
(a) Describe how commercial banks determine their output, interest rates and profit levels assuming they act as oligopolies. (b) To what extent is the above statement a reality
theory
How does economic theory contribute to managerial decisions
EFFICIENCY-WAGE THEORIES OF UNEMPLOYMENT Efficiency wage theories are clearly non-Walrasian theories in as much as they postulate payment of wages that are higher than m
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why firms under oligopoly market should follow price rigidity?
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Ask questiHow does economic theory contribute to managerial decisions? on #Minimum 100 words accepted#
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