The Hanover Manufacturing Company believes that the demand curve for the product is: P= 5-Q, where P is the price of its product (in dollars) and Q is the number of millions of units of its product sold per day. It is currently charging a price of $1 per unit for its product. A. Evaluate the wisdom of the firm's pricing polic
You are the manager of a firm that manufactures front and rear windshields for the automobile industry.
You are the manager of a firm that manufactures front and rear windshields for the automobile industry. Due to economies of scale in the industry, entry by new firms is not profitable. DaimlerChrysler has asked your company and your only rival to simultaneously submit a price quote for supplying 100,000 front and rear windshield
Assume that you are the sales manager for GM or Ford cars. How would you make the demand for GM and Ford cars shift to the right (demand increase) and inelastic so that more buyers purchase them? Explain in detail.
I am having trouble answering the following questions to the problem below. I am required to: (1) Analyze the problem using a decision tree, and (2) Determine the Maximin Alternative (Prob. 3: Decision Analysis) A firm must decide whether to construct a small, medium, or large stamping plant. A consultant's report i
If the demand for farm products were elastic rather than inelastic, would the good/bad paradox still exist?
If the demand for farm products were elastic rather than inelastic, would the good/bad paradox still exist? Why or why not.
Need some assistance in summarizing the content of this simulation according to the following questions: (at least 700 words) 1. What are the advantages and limitations of supply and demand identified in the simulation 2. Select an organization and identify the market structure for the organization. 3. Analyze how or
Need assistance in determining the best pricing strategy by answering the attached questions 1-7 based on the spreadsheet provided. 1. Include an assessment of whether the current fare maximizes profits. If not, identify the fare that should be charged. Give evidence that it is the best by showing that profits are highest if
1. Two partners who owns IT Business Solutions, a company supplying specialist software, operate out of an office in Fourways, Johannesburg but have discovered a vacant office building close to Sandton City. One of the partners favours moving to the new location because she believes the additional business gained by moving will
Could you identify and describe the concepts of scarcity and opportunity costs. Also, explain the laws of supply and demand and how they are related to the concepts of scarcity and opportunity costs in decision-making. Finally give me something other then a text book definition on market equilibrium and explain how it is determi
I can't find anywhere in my textbook a "direct" answer to this question. I tend to think that it's neither true nor false, because quantity discounts can be a form of price discrimination under certain circumstances. I guess I just need confirmation. Can someone please give me guidance on this question? "Quantity discounts
Please show work. Thanks! Based on historical data regarding sales, War Games management forecasts demand for the game to be P= 50- 0.002Q, where Q denotes unit sales /year, & P denotes price in dollars. The cost of manufacture is C= 140,000 + 10Q. Calculate the following, assuming that War Game maximizes profit: a. quanti
1. Illustrate the following with supply and demand curves. Before economic reforms were implemented in the countries of Eastern Europe, regulation held the price of bread substantially below equilibrium. When reforms were implemented, prices were deregulated and the price of bread rose dramatically. As a result, the quantity
I need help in determining whether each of the following would lead to an increase, a decrease, or no change in the quantity of money people wish to hold. Also determine whether there is a shift of the money demand curve or a movement along a given money demand curve. a. A decrease in the price level b. An increase in real o
Accounts payable . . . . . . . . . . . . . . . . . . . . . .. $ 35,000 Accounts receivable . . . . . . . . . . . . . . . . . . . . . . 65,000 Advertising expense . . . . . . . . . . . . . . . . . . . . . . 15,000 Cash . . . . . . . . . . . . . . . . . . . .. . . . . . . . . . 19,500 Supplies expense . . . . . . . . . . . . .
The switch to the use of HFCS from sugar in soft drinks was prompted in large part by its relatively lower price.
The switch to the use of HFCS from sugar in soft drinks was prompted in large part by its relatively lower price. Assuming a competitive market, what effect would this change have on the equilibrium price and output for soft drinks? price rises, output falls price falls, output rises price rises,
The demand for agricultural output is price inelastic. This means that if farmers, taken collectively, have a bumper crop, they will experience:
The demand for agricultural output is price inelastic. This means that if farmers, taken collectively, have a bumper crop, they will experience, a. lower price, greater quantities sold, and lower incomes b. higher prices, greater quantities sold, and higher incomes c. Lower prices, lower quantities sold, and lower incomes
I can't figure out how to go about finding how much the firm will charge. Suppose that a price-discriminating monopolist has segregated its market into two groups of buyers, the first group of described by the demand and revenue data in table 1. The demand and revenue data for the second group of buyers is in table 2. Assum
Many "on-ground" university campuses sell parking permits to their students allowing them to park on campus in designated areas.
Many "on-ground" university campuses sell parking permits to their students allowing them to park on campus in designated areas. Although most students complain about the relatively high cost of these permits, what annoys many of these students even more is that after having paid for their permits, vacant parking spaces in the d
The main thing is that many farmers have converted their acreage from wheat to corn to take advantage of the demand for ethanol
The main thing is that many farmers have converted their acreage from wheat to corn to take advantage of the demand for ethanol, used in gasoline and which draws very high prices for growers. Farmers that had planted wheat for 50 years are now planting corn. How will this affect the supply and demand?
What would have happen to gasoline production and consumption if the government had prohibited post-Katrina price increase?
The quetion are self practices on supply and demand. 3. what would have happen to gasoline production and consumption if the government had prohibited post-Katrina price increase.(see news page 55). 6. In fig. 3.8 why is the organ demand curve downward-sloping rather than vertical? 7.The shortage in the organ market (fig 3.8)
This is a study guide for me to use to study for an upcoming exam. I need detailed solution so I can be familiar with how to do a step by step solution. Excel is very hard for me unless I can see it clearly. Please see attachment. PROBLEM 1. Given the following information and diagram, determine the lowest cost routes to
Annual demand and supply for the Entronics company is given by: QD = 5,000 + 0.5 I + 0.2 A - 100P QS = -5000 + 100P where Q is the quantity per year, P is price, I is income per household, and A is advertising expenditure. a) If A = $10,000 and I = $25,000, what is the demand curve? b) what is equilibrium
Peak Period Computations Consider an electricity market with a daytime (peak-period) inverse demand of P=160-Q, and a nighttime (off-peak) inverse demand P=80-Q, where P is the price of electricity and Q is units of electricity. The marginal cost of supplying electricity is: MC=Q. Right now the utilities face a regulated pr
The inverse market demand curve is P=140-Q, and the inverse supply curve is P=20+Q. Assume that the closed market is NOT competitive, but is controlled by a single supplier. Again using the same inverse supply and demand curves, compute the following: 1. the monopoly equilibrium production/consumption level 2. the market pr
The inverse market demand curve is P=140-Q, and the inverse supply curve is P=20+Q. Assume that the market is in the equilibrium. Now, the market is opened up for trade. The world price is $60 per unit, and the country is too small to able to influence this price. Hence, the only option the country has is to buy or sell at the
I need to answer these two questions for homework and show my calculations. Please see attached file for full problem description. 1) Suppose you are hired to manage a small manufacturing facility which produces Widgets. a. You know from data collected on the Widget Market that market demand has recently increased and mar
If a company experiences dividend growth of 30% for three years and 5% there after based on a $1.00 per share dividend in year zero, what is its value? (assume investors demand a return of 12% from similar companies)
Please can you give some ideas on how to solve the problem, even if you can't help with the final solution..Thank you! The demand for bus transportation in a small city is P=100-Q, where P is the price of the bus fare, and Q are rides per month (units=10,000 rides). (a) What is the revenue function for bus rides? Plot this
Could you please write four paragraphs or so in APA style if your giving me information for another publication, using economic terms and demonstrate with a elastic demand chart concerning Elastic Demand and Price Discounts.
The point of equilibrium is the intersection of the supply and demand curves. The point of equilibrium changes based on movements in these two curves. What are some of the ways these curves shift and what is the corresponding change to the point of equilibrium?