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- Question Management of AG Travel and Tour has identified two groups of individuals thatwould be interested in the vacation package consisting of room and board and/orentertainment. The maximum amount that group 1 is willing to pay for room andboard is GHC 2500 and for entertainment is GHC 500. For group 2, the maximumamount they are willing to pay for room and board is GHC 1800 and forentertainment is GHC 750. Although AG Travel and Tour is not able to identifymembers of either group, it does know that each group values the components ofthe package differently. Assuming there are an equal number of members in eachgroup and that the total membership in each group is a single individual. If themarginal cost of providing the service (room and board and/or entertainment) toeach group is GHC 1000. i. How much will the hotel charge members of each group for the vacationpackage if it could identify the members in each group?ii. How much will the profit for AG Travel and Tour be? iii. Since AG…Agnes, a General Manager in XXX Company, estimated a multiplicative demand function of the form: using a cross-section data collected in the company sales on 30th June, 2019. The estimation results are as follows: Constant Price(P) Income (I) Price of other Good (Po) Estimated coefficient 0.022 -0.223 1.354 0.133 Standard Error 0.012 0.056 0.502 0.814 t-statistic (1.19) (-3.98) -2.69 -0.13 Number of Observations, n=210; R-squared= 0.7516 Critical Students t=1.96 at 5% Level of Significance Write down the estimated demand equation Interpret the coefficients and value Describe any three managerial decisions that can be applied by the manager from the estimated demand functionElectrical Components Profit A company’s dailyprofit from the production and sale of electrical components can be described by the equation P(x) =6.45x - 2000 dollars, where x is the number of unitsproduced and sold. What level of production andsales will give a daily profit of more than $10,900?
- "Shoeless" Joe Jackson was offered $ 5,000 by the infamous gambler Arnold Rothstein to "throw" the 1919 World Series. What is the purchasing power of Rothstein's bribe in 2021? A) $ 9,342.55 B) $ 75,780.35 C) $ 349,439.25 D) $ 892,445.05Qd=200+2p Qs= 15-1/2p equilibrium of the price market?first part options: 300,100,400,200 second part options: negative, at its maximum, equal to 0, at its minimum, positive
- It is known that the ABC oil company supplies consumers with 150 tons of products per day. The company produces only two types of products - gasoline and diesel fuel. The limiting transformation ratio of diesel fuel relative to gasoline is 0.5. a) Draw a line of the company's monthly production capacity for gasoline and diesel. b) With the advent of new technologies, production increased by 20%, and the availability of gasoline increased by 30%. Explain how the company's new product line differs from the previous one. c) If we put the gasoline production on the X-axis of the graph, what percentage of the slope capacity of the production line is different from the slope ratio of the previous production line?Consider the system of equations: pi = β0 + β0qi + β2ti + β3zi + ui qi = α0 + α1pi + α2ki + ԑi where p and q are endogenous variables.t, z and k are exogenous variables.u and ԑ are disturbance terms. And i is cross section. Explain how you would go about estimating the stated system of equations.Honda Motor Company is considering offering a rebate on its minivan, lowering the vehicle's price from to . The marketing group estimates that this rebate will increase sales over the next year from to vehicles. Suppose Honda's profit margin with the rebate is per vehicle. If the change in sales is the only consequence of this decision, what are its benefits and costs? Is it a good idea?
- Consider the “Trip Logistic” example discussed in class (i.e. base case). Please solve the same problem with each of the following changes, and compare the results with those of the basecase: a) The spot market price (in period 0) is reduced to $0.55 per sq. ft. per year. Assume that everything else remains the same as the base-case. b) There is a lower demand uncertainty: Demand can go up by 5% with p= 0.5 or down by 5% with 1 − p= 0.5. Assume that everything else remains the same as the base-case.choose the right answer: a) P=8, q=9 b) P=16, q=8 c) P=40, q=5 d) P=24, q=71.The price p in dollars of a certain commodity and the quantity x sold obey the demand equation p= -1/5 + 200 where 0<=x <=1000. Suppose that the cost C in dollars of producing x units is C= the square root of x divided by 10 + 400. Assuming that all items produced are sold, find the cost of c as a function of the price p. 2. The value V of a vehicle is v(t)= 420,000(0.965)^t. What would be the car's worth in 2 years? In how many years would the car be worth $325,000?