MAT 240 Module Three Assignment - D

The Camera Shop sells two popular models of digital SLR cameras. The sales of these products are not independent; if the price of one increases, the sales of the other increases. In economics, these two camera models are called substitutable products. The store wishes to establish a pricing policy to maximize revenue from these products. A study of price and sales data shows the following relationships between the quantity sold (N) and price (P) of each model. (a) Construct a model for the total revenue and implement it on a spreadsheet. What is the profit (in dollars) predicted by your model when the price of model A is PA = $260 and the price of model B is PB = $320. $ 81276 NA = 165 -0.7PA + 0.45PB NB = 322 +0.08PA - 0.6PB (b) Develop a two-way data table to estimate the optimal prices for each product in order to maximize the total revenue. Vary each price from $250 to $500 in increments of $10. 300 X PB =

The Camera Shop sells two popular models of digital SLR cameras. The sales of these products are not independent; if the price of one increases, the sales of the other increases. In economics, these two camera models are called substitutable products. The store wishes to establish a pricing policy to maximize revenue from these products. A study of price and sales data shows the following relationships between the quantity sold (N) and price (P) of each model. NA = 185 - 0.7PA + 0.55P, Ng = 282 + 0.08PA - 0.7PB (a) Construct a model for the total revenue and implement it on a spreadsheet. What is the profit (in dollars) predicted by your model when the price of model A is Pa = $230 and the price of model B is Pa = $320. $ 93318 (b) Develop a two-way data table to estimate the optimal prices for each product in order to maximize the total revenue. Vary each price from $250 to $500 in increments of $10. PA = 270 PB = 390

GM’s Food Shops has completed a study of weekly demand for its “new-fashioned” tacos in 53 regional markets. The study revealed that where Q is the number of tacos sold per store per week, A is the level of local advertising expenditure, Pop denotes the local population (in thousands), and Pr is the average taco price of local competitors. For the typical GM’s outlet, P = P1.50, A = P1,000, Pop = 40, and Pr = P1.                                                 Q = 400 - 1,200P + 0.8A + 55Pop + 800Pr   Estimate the weekly sales for the typical GM’s outlet. Determine the equilibrium price and equilibrium quantity, if supply is Qs = 700 + 1,200P considering the general demand function of GM’s outlet Should GM raise its taco prices? Why or why not?

Question: As the manager of Smith Construction, you need to make a decision on the number of homes to build in a new residential area where you are the only builder. Unfortunately, you must build the homes before you learn how strong demand is for homes in this large neighborhood. There is a 60 percent chance of low demand and a 40 percent chance of high demand. The corresponding (inverse) demand functions for these two scenarios are P = 300,000 − 400Q and P = 500,000 − 275Q, respectively. Your cost function is C(Q) = 140,000 + 240,000Q. How many new homes should you build, and what profits can you expect?

MASA Firm operates in the construction and marketing of HOUSING and BUSINESS in the provinces of our country such as San Francisco, California, Texas, Florida, Washington, and Arizona. Among the buildings built by this company, especially the sales of "smart residences", there has been a big decrease throughout the country since 2018. Marketing Managers cite the Economic Crisis as the main reason for this decline. The senior management of the firm claims that there is a change in the income levels of the (target audience) that has the potential to buy the constructed houses and that the decrease in sales is due to this change. In addition, they think that a new marketing strategy should be developed for the upper-income group for existing and newly built houses. As a result of the meeting of the Company's Board Members with Marketing Managers; It was decided to conduct marketing research "in order to determine whether there is a change in the income level of the customers who bought…

Case study 1: Microeconomics  This case study focuses on the pay-for-viewing TV (Pay TV in short) industry in Australia. Back in 2013, Foxtel had just finished acquiring Austar, its major competitor. Foxtel was enjoying near-total dominance in the market. There were other players such as Optus TV and iiNet, however, their market shares were dwarfed by that of Foxtel. IBISWorld reported that Foxtel occupied 92.6% of the market share in 2013. Then in March 2015, Netflix Australia was launched, opening the gate for an influx of other subscription video-on-demand (SVOD) services. These new services were internet-based, which differed from Foxtel’s model of cable TV. Nevertheless, they competed fiercely for subscribers. Fast forward to the present day (October 2021), Australian consumers now have a wealth of choices of the content offered by Foxtel, Netflix, Stan, Amazon Prime, Apple TV, Disney+, Optus Sport, and the recently launched Paramount+ (launched in August 2021).   Sorry, this is…

City Condos Construction, CCC, obtained a loan to purchase city land for a premium condominium building. CCC paid a real estate analyst $100,000 to write a report on the market. The report stated-and CCC believes- that each condo will sell for $5 million and they will build 10 condos on each building floor. The city's condo market is competitive but limits condo towers to 6 floors only. Construction costs rise with the number of floors built. The construction costs are $5 million (or $5m) to build one floor, $20m for two floors, $45m for 3 floors, $80m for four floors, $125m for five floors, and $180m for six floors. (Notice these values are not per floor costs.) In addition to these costs, CCC pays $1m per year in interest on its loan which it cannot avoid and will pay overhead costs for construction of $5m per year which are incurred only when construction occurs. МС, АC, MR MC AC MR a $10 Condo Floors Given the cost and revenue information above, the numeric values for CCC's cost…

For the past few months, an airline has had 25% empty seats (unsold roundtrip tickets) on its Boston to New York City route and is deciding whether to change the price of its roundtrip tickets. The costs to the airline of flying between Boston and New York City do not depend on the number of passengers. There are several competing airlines offering the same service between Boston and New York City and there are train and bus options available to travelers as well. Based on this information, your best advice is: A. Keep prices the same. B. Raise prices because total revenues will increase. C. Lower prices because total revenues will increase. D. Either raise or lower prices since total revenues are not being maximized.

An automobile manufacturer wants to understand the factors influencing car sales. The company gathers data on variables such as price, advertising expenditure, and consumer income. Econometric models are used to analyze how these variables affect car sales, aiding in strategic decision-making. In this context, econometrics is used for:A) Product designB) Understanding sales determinantsC) Assessing employee performanceD) Planning corporate events  Note:- Please avoid using ChatGPT and refrain from providing handwritten solutions; otherwise, I will definitely give a downvote. Also, be mindful of plagiarism. Answer completely and accurate answer. Rest assured, you will receive an upvote if the answer is accurate.

Question attached

The Camera Shop sells two popular models of digital SLR cameras (Camera A Price: $230, Camera B Price: $310). The sales of these products are not independent of each other, but rather if the price of one increase, the sales of the other will increase. In economics, these two camera models are called substitutable products. The store wishes to establish a pricing policy to maximize revenue from these products. A study of price and sales data shows the following relationships between the quantity sold (N) and prices (P) of each model:    NA = 192 - 0.5PA + 0.25PB    NB = 305 + 0.08PA - 0.6PB Construct a model for the total revenue and implement it on a spreadsheet. Develop a two-way data table to estimate the optimal prices for each product in order to maximize the total revenue. Vary each price from $250 to $500 in increments of $10. Max revenue occurs at Camera A price of $ _____________ Max revenue occurs at Camera B price of $ ____________

Define conversation analysis (CA)

It is about travel method problem.    You have been commissioned to estimate the demand curve for admission to EuroLand, an amusement park in France. To do this, you spend a day surveying visi tors to the park. Before doing this, you divide the area around the park into 10 zones with the distance from the park approximately constant within a zone. You ask each person you interview where they come from. Based on that information, and figures on annual attendance at the park, you are able to calculate the annual number of visitors from each zone. Your data are shown below: (table) Zone Distance from park (km) Zonal population Number of visitors 1 10 5,000 500 2 20 10,000 900 3 30 25,000 2,000 4 40 10,000 700 5 50 100,000 6,000 6 60 500,000 25,000 7 70 200,000 8,000 8 80 50,000 1,500 9 90 100,000 2,000 10 100 100,000 1,000 You note that admission to Euroland is 150 euros per person. you also calculate that transportation costs, including time costs, are…

Based on honor code, please answer 3 subparts. Bianca runs an online business making and selling Christmas stockings. Over time she has worked out that the cost to make and deliver 3 Christmas stockings is $125, while the cost to make and deliver 7 stockings is $185. The cost to produce each Christmas stocking is the same. Costs involved also include the purchase of the tools to make the stockings. Bianca is interested in exploring the relationship between her profit, costs and selling price. She wants to determine the ‘break-even’ point and look at how this is impacted if the selling price is adjusted. Bianca sells each stocking for $25.a. Write a rule for the amount she would receive (revenue), R dollars, from selling s stockings and sketch its graph on the same axes. b. What are the coordinates of the point where the graphs intersect? c. Profit is defined as revenue – cost: Give a rule for the profit, P dollars, from selling s stockings. Using the equation, find how many stockings…

You work for an IT company which recently developed a software package for a hospital, and multiple copies of the software will be installed on different computers of this hospital. The fixed cost of developing this software is $9,000. The marketing team finds that within this hospital, demand for the software is Qd = 300 - 0.2Pand that it would cost your company $800 per unit to install and maintain the software at each computer the software is installed on. The CEO has asked you to construct a two-part pricing strategy for this software. (A) Under a two-part pricing strategy, what is the per-unit fee? [ Select ] ["$600", "$9000", "$1000", "$800", "$10000"] (B) Under a two-part pricing strategy, what is the fixed fee you charge the hospital? (Hint: As a "license fee" to use the software) [ Select ] ["$35000", "$45000", "$28000", "$42000", "$49000"]

QUESTION 2 You work for a big retail chain that operates in a large number of regional markets and you want to investigate the effect of increased marketing spending on sales. You randomly select half of the markets and increase the marketing budget in these markets by 10%. The rest of the markets are allocated the same marketing budget as before. Then comparing the average sales in the markets with increased marketing budget and average sales in the remaining markets will give an unbiased estimate of the true causal effect of increased marketing spending on sales. True O False

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Question One Management of AG Travel and Tour has identified two groups of individuals that would be interested in the vacation package consisting of room and board and/or entertainment. The maximum amount that group 1 is willing to pay for room and board is GHC 2500 and for entertainment is GHC 500. For group 2, the maximum amount they are willing to pay for room and board is GHC 1800 and for entertainment is GHC 750. Although AG Travel and Tour is not able to identify members of either group, it does know that each group values the components of the package differently. Assuming there are an equal number of members in each group and that the total membership in each group is a single individual. If the marginal cost of providing the service (room and board and/or entertainment) to each group is GHC 1000.i. How much will the hotel charge members of each group for the vacation package if it could identify the members in each group? ii. How much will the profit for AG Travel and Tour…

A new tropical fruit juice product was entering the marketplace. The director of marketing for the company would like to know which advantage should be emphasized in advertisements, and which advertisement is better for sales. Nine cities with similar demographics are chosen, and a different combination of Media and Marketing Strategy is tried. The unit sales of tropical fruit juice for the eight weeks are shown in the two-way table below. Media   Marketing strategy     Convenience Quality Price Television 492, 630, 559, 447, 480, 624, 547, 444 464, 559, 759, 558, 528, 670, 534, 657 678, 628, 591, 633, 684, 761, 691, 549 Social Media 464, 559, 759, 558, 528, 670, 534, 657 710, 650, 705, 653, 577, 837, 629, 799 705, 585, 527, 499, 515, 566, 710, 547 Newspaper 690, 650, 705, 653, 577, 825, 629, 799 577, 616, 708, 486, 480, 652, 585, 538 803, 583, 825, 597, 813, 564, 708, 615 At the 0.05 level of significance, is there an interaction…

Four companies (Firm 1, 2, 3 and 4) are producing a product for the market. Each company will decide the number of products produced. You are given that • . Each firm can choose its qi. Given the quantites produced by four companies (denoted by 91, 92, 93, 94 respectively), the market price of the product is P = 400 - 91-92-93 - 94. Cost of producing one product is 20 (*Note: So the total cost for producing qi units of product is 20qi. Firm 1 and Firm 2 will first decide the quantities produced simultaneously at the beginning. After knowing 91 and 92, Firm 3 and Firm 4 will decide the quantities produced simultaneously. (a) State the strategic profiles of each firm. (b) Find all possible subgame perfect equilibrium for this games. Provide full justification to your answer.

Answer 3 and 4

The illusion of control bias refers to:  (a)None of the other answers are correct (b)A bettor thinking they have control over the outcome of a match/game (c)A bettor overestimating their ability to pick the outcome of a game (d)An individual with a gambling problem arguing they do not have a gambling problem