•If you are the manager of a company, and you recently discovered that your goods are considered by your consumers as inferior goods, what will you do?
Q: 1. How many buyers and sellers are there?
A: Since you have asked multiple questions, we will solve the first question for you. If you want any…
Q: 3-4. What is the difference between a consumer’s disposable and discretionary income?
A: Disposable Income : The disposable income is the measure of cash you have left over after you've…
Q: c. "I love eating peanut butter. However, I hate cheese because it has a very bad smell that makes…
A: A person is indifferent at any point on the IC(indifference curve) and he will always prefer a…
Q: 2. Identify and describe two functional objects that you use in your day to day life that are also…
A: Functional artisitic objects are non living objects which are used or operated in everyday life but…
Q: What is important for the retailers to consider in the selection of target market? a. Degree of…
A: The retailers in the market are considered as the sole providers of the products to the consumers…
Q: 10. A pet shop had a 220% increase in sales of turtles in 2008 over the previous year's sales. If…
A: 10.
Q: soline price increase will cause production cost of cars increase?
A: demand refers to the quantity that a consumer wishes to purchase at a given price in a given period…
Q: II. There are two characters involved in Popular Culture in the context of consumerism. These are…
A: Capitalists - It is the privatization of all production system whereby the market is completely free…
Q: Mr. Ali buys salt from the grocery store near his house. Which type of buying behavior it is? O a.…
A: Buying behavior of consumer depicts the decision making act of a consumer while making a purchase.…
Q: at he planned to offer B ¥2,000,000 for the house. C went to B and told B that A had ecided to offer…
A: A contract refers to a written agreement between the individuals taking part in a transaction- that…
Q: 7. How does economic conditions effect consumer behavior?
A: In the field of consumer behavior, the study of people and organizations, as well as how they choose…
Q: 1. What is a commodity? a product O a bathroom facility
A: What is a commodity? a. Product b. a bathroom facility Solution: Answer is a bathroom facility. A…
Q: 8 Fill in the blank with the correct answer by typing in the box. A local coffee house, Joe Bean…
A: The joe bean coffee lost their several couaromer beacuse theier are beliving that thiere coffee was…
Q: 24 12 If the price of a telephone increases from $5 to $10 an hour and nothing else changes, then
A: Optin c is the right answer marginal cost would not change Reason:- Here the price of the…
Q: 1. Graph and Explain the meaning of Edgeworth box.
A: Answer 1 In financial matters, an Edgeworth box, once in a while alluded to as an Edgeworth-Bowley…
Q: If you have Marginal utility of 2 with a Total utility equals to 56, then when marginal utility is…
A: Marginal utility is the additional utility gained from additional unit consumed.
Q: Analyze the demand and supply of pfizer, do they encounter shortage or surplus or equilibrium…
A: The demand and supply situation in any economy depends upon the prevailing market conditions.…
Q: 1. What cuve connects A,B and C 2. Is good 1/2 a gross compliment/gross substitute to good 1/2…
A: Substitute goods are those goods which can be used in place of other goods, for example, tea and…
Q: t. Mark’s Square is a beautiful plaza in Venice that is often frequented by both tourists and…
A: Cost of production is the total cost incurred during the manufacturing of raw material to the…
Q: 41. The Principle of Diminishing Marginal Utility states that the extra satisfaction we gain from…
A: Since you have asked multiple question, we will solve the first question for you. If you want any…
Q: How Does Wa l l S t r e e t E v a l u a t e E f f i c i e n c y ?
A: Investors and market analysts watch for return on equity to evaluate the efficiency.
Q: What type of publications catered to urban dwellers and immigrants?
A: A person who immigrates to a country for the purpose of establishing a permanent residence.
Q: So is it D or B
A: The answer is - B. Revoke the license of an insolvent insurer.
Q: what are the pros and cons with being an real estate agent
A: Real Estate Agent: An real estate agent is an individual which serves as an intermediary between the…
Q: 1. Suppose a firm sells a luxury and a budget version of a good. Why might that firm make the budget…
A: The firm might be differentiating between the quality of two types of goods to maximize their…
Q: Which is a NOT general facet of "Consumer Culture"? O self-fulfilment in buying products O personal…
A: Hi! thanks for the question but as per the guidelines, we answer only one question at one time.…
Q: o
A: Given 1st choice = 13747 lumpsum payment today 2nd choice = 150 $ monthly for 9 years Interest rate…
Q: 6. In some companies, customer service is carried out by the salesperson. In others, it is the…
A: If the customer service is given by salesperson then it would be helpful only if there is limited…
Q: Q2/suppose there were six kinds of toppings that one could order for a pizza. How many combinations…
A: Given the information: Types of pizza = 6 types Number of combinations = 3 toppings
Q: 36. Marginal utility is defined as: a. The change to utility or satisfaction as consumption of a…
A: The change in the total utility from the consumption of an additional unit of a good is known as a…
Q: Explain: “The success of a new product depends not only on its marginal utility but also on its…
A: The consumption of a new product gives higher level of marginal utility per unit. On the other hand,…
Q: How has netflix grown worldwide so well over the past decade? Please explain a few reasons why
A: Netflix is a video-on-demand service that includes award-winning TV series, movies, anime,…
Q: Jane is maximizing total utility while consuming food and clothing. Her marginal utility from food…
A:
Q: One of the main functions of the market for goods and services is to enable: O a. the sale of goods…
A: one of the main functions of the market for goods and services is to enable financial transactions…
Q: b) You plan to study on weekend and your friends ask you to go to a farm house with them. What do…
A: Opportunity cost refers to the best alternative cost that forgo or give up when a decision or choice…
Q: Hi, there. I need a clarification of question number 1, which choice is the best answer?
A: The supply curve will shift to the left whenever there is an increase in the cost of production.
Q: A private seller sells services that have the demand function P = -1.6Q + 6,000 Furthermore, MC = AC…
A: The seller's demand function is essentially their production function. It can also be thought of as…
Q: If 4 hours is the efficient amount of time to exercise for the week, then exercising for 10 minutes…
A: As we know the benefit that a person obtains from consuming one additional unit of an item or…
Q: 13. A(n) is a word, symbol, design, or combination of these that a business uses to identify itself…
A: Identification and recognition of the product is a vital component for any business. Hence, the firm…
Q: THE NEXT TWO THE FOLLOWING FIGURE: P $2.00 $1.50 W U Q od
A: Here, the given graph shows the demand curve, which explains differ quantity demanded as different…
Q: A consumer's preferences for non-energy services and energy services are prescribed by U(N,E)=3N+E.…
A: Marginal utility refers to change in total utility when one additional unit of commodity is…
Q: . Explain why creativity is important in public relations and how it can be used? 3. What are key…
A: Concept of creativity in public relations Brands and enterprises may communicate with their…
Q: II. Give an example of a product based on Consumer or household Goods Classification PRODUCTS…
A: The mentioned four types are the classification of goods based on how the consumer buys the goods.
Q: If a consumer is injured by a defective product, which of the following types of claims may the…
A: Consumer is injured with defective products than following are the claim he or she can bring which…
Q: Question 1 of 20 A short-term savings strategy is most useful for people who want to: O A. withdraw…
A: There are different type sof investments in which an individual can invest his money to earn extra…
Q: MUx=2, Px=1 MUy=4, Py=A MUz=6, Pz=B If MUk=C, Pk=4, what should be the value of C to ensure…
A: The consumer equilibrium is the point for where the marginal utility of one rupee for each good is…
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- What is a consumers wishedfor level of performances?What are the consequences if consumer acts in the market according to Myopia and ignore its neccessary products?Give a Practical Example.If you wanted to increase demand for your restaurant butare unable to lower prices or increase advertising, whatsteps might you take?
- Creative Homework/Short Project Assume that you arean entrepreneur who runs a bakery that sells glutenfree breads and cakes. You believe that the currenteconomic conditions merit an increase in the price ofyour baked goods. You are concerned. however, thatincreasing the price might not be profitable becauseyou are unsure of the price elasticity of demand for yourproducts. Develop a plan for the measurement of priceelasticity of demand for your products. What findingswould lead you to increase the price? What findingswould cause you to rethink the decision to increaseprices? Develop a presentation for your class outlining(I) the concept of elasticity of demand, (2) why raisingprices without undetstanding the elasticity would bea bad move. (3) your recommendations for measurement. and (4) the potential impact on profits for elasticand inelastic demandCreative Homework/Short Project Assume that you arean entrepreneur who runs a bakery that sells glutenfree breads and cakes. You believe that the currenteconomic conditions merit an increase in the price ofyour baked goods. You are concerned, however, thatincreasing the price might not be profitable becauseyou are unsure of the price elasticity of demand for yourproducts. Develop a plan for the measurement of priceelasticity of demand for your products. What findingswould lead you to increase the price? What findingswould cause you to rethink the decision to increaseprices? Develop a presentation for your class outlining(1) the concept of elasticity of demand, (2) why raisingprices without understanding the elasticity would bea bad move, (3) your recommendations for measurement, and (4) the potential impact on profits for elasticand inelastic demandExplain, Why is the marginal utility curve declining with incresed consumpition of burgers?
- Which term is used to describe the want satisfying power of a commodity or a service?[A] Demand[B] Want[C] Utility[D] Consumption Please dont use any ai tool. Thank youAssume you have your car broken down just before the weekend. You value your weekend trip as muchas v and if you have to stay home you get the zero utility. There are two dealerships in your town. Atthe beginning of the day they simultaneously choose a price for repair. Dealers know that when you cometo one of them and observe the price, you can always call to another dealer to make an inquiry about hisprice. The call is costless. The other dealer, however, can be occupied for this day. Assume, this happenswith probability which is a common knowledge (but the dealers do not know whether the other dealer isoccupied or not). Assume zero repair cost for the dealer and find a symmetric equilibrium of the game.Explain the type of pricing strategy that you as the manager of a company would implementfor Good X and Good Y with the following price elasticity of demand co efficients. Usediagrams to motivate your answer.a). Good X: 2.3 b). Good Y: 0.6
- Supply and Demand The table below gives thequantity of graphing calculators demanded and thequantity supplied for selected prices.a. Find the linear equation that gives the price as afunction of the quantity demanded.b. Find the linear equation that gives the price as afunction of the quantity supplied.c. Use these equations to find the market equilibriumprice.hey im confused. when i enter this into my calculator 50/(1+0.05) + 50/(1+0.05)2 + 1000/(1+0.05)2 i get a 1000.so shouldnt quantity demanded be 2000?Genovia has experienced exceptional growth in recent years. Its GDP per capita (orIncome) has increased from around $30,000 to $50,000 in last 5 years. Over theperiod quantity demanded of personal cars has increased from 450,000 units per yearto 600,000 units. Quantity demanded of public transport, however, has declined from10,000 buses to 7,000 buses. Calculate income elasticity of demand and tell whichproduct is a normal good and which one is inferior.
