In the first week after Apple’s iTunes raised the price on its most popular songs from 99¢ to $1.29, the quantity demanded of Joyner’s “OJ and Ramen” fell approximately 9.4% to 52,760 units from the 57,941 units sold in the previous week. What is the arc elasticity of demand for “OJ & Ramen” based on the average price and quantity?
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- In the first week after Apple’s iTunes raised the price on its most popular songs from 99¢ to $1.29, the quantity demanded of Joyner’s “OJ and Ramen” fell approximately 9.4% to 52,760 units from the 57,941 units sold in the previous week. What is the arc elasticity of demand for “OJ & Ramen” based on the average price and quantity?
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- Scenario 3 Ben Gibson, the purchasing manager at Coastal Products, was reviewing purchasing expenditures for packaging materials with Jeff Joyner. Ben was particularly disturbed about the amount spent on corrugated boxes purchased from Southeastern Corrugated. Ben said, I dont like the salesman from that company. He comes around here acting like he owns the place. He loves to tell us about his fancy car, house, and vacations. It seems to me he must be making too much money off of us! Jeff responded that he heard Southeastern Corrugated was going to ask for a price increase to cover the rising costs of raw material paper stock. Jeff further stated that Southeastern would probably ask for more than what was justified simply from rising paper stock costs. After the meeting, Ben decided he had heard enough. After all, he prided himself on being a results-oriented manager. There was no way he was going to allow that salesman to keep taking advantage of Coastal Products. Ben called Jeff and told him it was time to rebid the corrugated contract before Southeastern came in with a price increase request. Who did Jeff know that might be interested in the business? Jeff replied he had several companies in mind to include in the bidding process. These companies would surely come in at a lower price, partly because they used lower-grade boxes that would probably work well enough in Coastal Products process. Jeff also explained that these suppliers were not serious contenders for the business. Their purpose was to create competition with the bids. Ben told Jeff to make sure that Southeastern was well aware that these new suppliers were bidding on the contract. He also said to make sure the suppliers knew that price was going to be the determining factor in this quote, because he considered corrugated boxes to be a standard industry item. Is Ben Gibson acting legally? Is he acting ethically? Why or why not?Scenario 3 Ben Gibson, the purchasing manager at Coastal Products, was reviewing purchasing expenditures for packaging materials with Jeff Joyner. Ben was particularly disturbed about the amount spent on corrugated boxes purchased from Southeastern Corrugated. Ben said, I dont like the salesman from that company. He comes around here acting like he owns the place. He loves to tell us about his fancy car, house, and vacations. It seems to me he must be making too much money off of us! Jeff responded that he heard Southeastern Corrugated was going to ask for a price increase to cover the rising costs of raw material paper stock. Jeff further stated that Southeastern would probably ask for more than what was justified simply from rising paper stock costs. After the meeting, Ben decided he had heard enough. After all, he prided himself on being a results-oriented manager. There was no way he was going to allow that salesman to keep taking advantage of Coastal Products. Ben called Jeff and told him it was time to rebid the corrugated contract before Southeastern came in with a price increase request. Who did Jeff know that might be interested in the business? Jeff replied he had several companies in mind to include in the bidding process. These companies would surely come in at a lower price, partly because they used lower-grade boxes that would probably work well enough in Coastal Products process. Jeff also explained that these suppliers were not serious contenders for the business. Their purpose was to create competition with the bids. Ben told Jeff to make sure that Southeastern was well aware that these new suppliers were bidding on the contract. He also said to make sure the suppliers knew that price was going to be the determining factor in this quote, because he considered corrugated boxes to be a standard industry item. As the Marketing Manager for Southeastern Corrugated, what would you do upon receiving the request for quotation from Coastal Products?Tesla’s net losses had begun to accelerate in 2014 and between 2014 and 2020, Tesla’s losses ranged from minimum of 294 million U.S. dollars in 2014 to maximum of 2.241 billion U.S. dollars in 2017. However, Tesla turned a full-year profit for the first time on record in 2020. Net income of 862 million U.S. dollars in 2020. In addition, as of December 2021, Tesla’s market cap had exceeded $1 Trillion, which makes Tesla the world's 6th most valuable company by market cap. (Check the table of the changes of Tesla market cap and stock prices, appendix 1). Comment and make an argument of how a company that was realizing losses till 2019 has turned to be what it is today explaining from your point of view what are the factors that made this change and whether Tesla is really worth this value or not!
- Suppose that new uses are discovered for corn. Assume that nothing else haschanged. What do you expect to happen to the price of soybeans. Explain with a supply and demand diagram for soybeans. For a bonus point, what is the real-world basis for this question?1.Indicate whether the supply or Demand curve would shift to the right, shift to the left or movement along the demand/supply curve under each of the following instances An announcement by local supermarkets on radios and television channels that more companies and individuals with pick up cars have come on board to offer delivery services of groceries to customers during the rock down period. What would happen to the supply of delivery transport service? The Namibian government decides to stop subsidising the City of Windhoek, public transport division. what would happen to the supply of public transport? The government of Namibia decides to increase the income of all the civil servant by 30% as many demanded the need to buy their own vehicle. what would happen to the demand curve for vehicles?Federal Express enters into contracts with independent truck operators who offer FedEx service and who are rewarded by the volume of packagesthey carry. According to this information, answer the following questions: Why doesn’t FedEx buy more trucks and hire more drivers? What incentive problems might arise from this arrangement?
- What sort of demand management techniques would an exclusive restaurant use when demand exceeds its capacity? What about McDonald’s? Do you think customer service has improved over the years for McDonald’s?The government of Australia has embarked on various policies such as Job Keeperand the provision of subsidies to firms in order to reduce the severity of COVID 19 on theeconomy. Suppose the money supply expands such that the Reserve Bank predictsthat the economic expansion is not sustainable.Use two diagrams one for the money market and another for the goods and services(Aggregate Demand and Aggregate Supply model), to explain the policy that theReserve Bank can adopt in order to overcome the effect of increasing the money supplyon the economy.Assume that: the money supply increased from the equilibrium of AUD 40 billion to AUD 70billion Interest was reduced to the interest rate of 1.5% as part of the stimulus packagefor the nation to overcome the effects of COVID 19. But the equilibrium interestrate is 4% Assume that equilibrium real GDP is AUD 60 billion Assume that inflation during the COVID crisis was at an equilibrium price of CPI 65 Assume that to overcome the inflationary…What is the fertilizer constraint? a. 2r t c <= 10 b. r + c <= 10 c. 3r + 3c <= 10 d. none of the above
- Joel Deaine, CEO of Deaine Enterprises Incorporated (DEI), is considering a special offer to manufacture a new line of women’s clothing for a large department store chain. DEI has specialized in designer women’s clothing sold in small, upscale retail clothing stores throughout the country. To protect the very elite brand image, DEI has not sold clothing to large department stores. The current offer, however, might be too good to turn down. The department store is willing to commit to a large order, which would be very profitable to DEI, and the order would be renewed automatically for two more years, presumably to continue after that point. Required: Explain two of the implementation tools covered in this chapter that Joel can use to implement his strategy.Joel Deaine, CEO of Deaine Enterprises Incorporated (DEI), is considering a special offer to manufacture a new line of women’s clothing for a large department store chain. DEI has specialized in designer women’s clothing sold in small, upscale retail clothing stores throughout the country. To protect the very elite brand image, DEI has not sold clothing to large department stores. The current offer, however, might be too good to turn down. The department store is willing to commit to a large order, which would be very profitable to DEI, and the order would be renewed automatically for two more years, presumably to continue after that point. Required: Determine Joel’s competitive strategy (cost leadership or differentiation) and use this strategy to analyze the choice Joel faces.Having trouble Developing a Product-Market Expansion Grid (Ansoff’s Model). Please help me find out how Costco would fill an Ansoffs matrix for the year 2024. Additionally, how would this work over the following years?