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Explain Market pain. Provide an example of a product that solves market pain.
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- How can a manager earn profit by exploiting market inefficiencies? What are some common tactics?Maximizing total revenue is the same as maximizing profit is this true or falseLeopard golf clubs usually sell for $1300. At this price, the retailer can sell on average 20 sets per week. For every $50 reduction in price, sales of the golf increase by two sets per week. Similarly, for every $50 increase in price, sales decrease by two sets per week. Determine the optimum price to maximize revenue.
- The profit-maximizing price is ______Please no written by hand solution In 1972 the U.S. Food and Drug Administration (FDA) began requiring all aspirin manufacturers to package aspirin in bottles with child-resistant protective caps, to make it much harder for children to open the bottles and thus reduce the number of young children who died from overdosing on aspirin. (Children apparently thought the aspirin was candy.) Rather than decreasing, the number of young children who died from overdosing on aspirin actually increased. Use the Economic Way of Thinking to carefully and completely explain why requiring this safety device led to an increase in the number of children overdosing on aspirin.Starting a gluten free and nut free restaurant has been a lifelong dream of Sydney Quintero, since he realized his dietary restrictions as a teenager. Now, that Sydney has graduated with his business degree, he is pursuing his dream. He has researched geographic locations around his state and selected three different cities, Fort Alden, Central City and Roseville, as possibilities for his flagship restaurant. The market for gluten/nut free products often changes due to health awareness, current trends and general demographic changes in population. Sydney’s marketing research has given him some estimates for the different locations as described in the decision table below.Decision Table State of Nature Alternatives Strong Market Fair Market Poor Market Fort Alden 75,00075,000 49,50049,500 35,00035,000 Central City 70,00070,000 54,00054,000 29,00029,000 Roseville 115,000115,000 80,00080,000 40,00040,000 Step 2 of 2 : What would Sydney’s anticipated payoff be…
- Multiple Choice question if in the short run the demand for transit by train is inelastic and in the long run the demand is elastic, then a price: a.increase will increase total revenue in the short run but decrease total revenue in the long run. b.decrease will decrease total revenue in the short run and decrease total revenue in the long run. c. increase will decrease total revenue in the short run but increase total revenue in the long run. d.decrease will increase total revenue in the short run but decrease total revenue in the long run.Picture a scenario in which the fashion industry is suffering from monopolistic price gouging and a dwindling demand (due to the existence of sweatshops and environmentally unfriendly business practices). A hypothetical situation such as this is likely to cause high unemployment in the fashion industry. What could the government do to correct this market failure? Including diagrams where/if appropriate)Please tell me which multiple choice are correct Excess supply in a competitive market with no interventionSelect one or more:a. Will lead to a rise in priceb. Will lead to rationingc. Will lead to diseconomies of scaled. Will lead to a fall in price
- What kind of firm can sell all its product at the market price but nothing above that price?Allocative efficiency means that a the marginal benefit of the product exceeds its marginal cost. b the product is sold at a price equal to the average cost of producing it. c society's scarce resources are used to produce products that align with consumer preferences. d the product is produced at the lowest unit-cost possible.When plan a demand curve for crush tomatoes, what is assumed to be constant according to ceteris paribus Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.
