Suppose you have two types of users for your software: basic users and professionals. The value each group places on your basic program and your advanced program is given in the table below.                                                    Value of Product basic users Professionals basic program $65 $60 advance program $75 $150 You don’t know who exactly your basic and professional users are. How might you price your advanced program so that only your professionals by that version and you maximize profits?   Group of answer choices   $144   $150   $65   $75

Q: Answer the given question with a proper explanation and step-by-step solution.  Considering the…

A: Collusion is an agreement that takes place between competitors who are not competitive and have…

Q: Felicity is studying economics and political science. She can read 30 pages of political science per…

A: Given,Felicity can read:Assignment:

Q: Refer to Figure 7-19. At the equilibrium price, producer surplus is O a. $300. O b. $150. O c. $450.…

A: The difference between the market price and the maximum price a producer is willing to accept for a…

Q: 1. Refer to figure below. If the current market price is £15, then... P £18 £15 £12 £9 £6 0 100 200…

A: Price controls refer to limitations established and upheld by governments on the permissible prices…

Q: Van and Amy each rent one unit of a two-unit apartment building. The building has two separate…

A:

Q: Suppose the inverse demand curve on ore is given by P = X - 0.67 Q. Ore can be either mined or…

A: The demanded quantity of any commodity reflects the amount of that commodity an individual is…

Q: Calculate the price in Country U using the following information in a Monopoly market when there is…

A: Demand elasticity measures how sensitive a product's quantity demanded is to changes in price. It…

Q: Suppose market A is currently purely competitive, with consumer surplus equal to $250, producer…

A: It can be defined as the concept which shows the inefficiency of the economy. When the economy does…

Q: Currency M1 Money supply measure Venn diagram M2 Currency M1 M2 • Traveler's checks • Checkable…

A: The total of all the money (all currencies and liquid assets) in a country's economy is the money…

Q: Which of the following modes of entry into foreign markets can result in a lack of control over…

A: When venturing into foreign markets, businesses must carefully consider their entry strategy to…

Q: The table below forms part of production function analysis for Elegance Holdings Ltd. No. of workers…

A: The terms TPP, APP, and MPP are associated with the concept of production functions in economics,…

Q: The Night Owl Restaurant generates sales of $1,000,000 a month with variable costs of 35%. The Kobe…

A: Total sales of menu items=20000 Kobe beef burger=10%price=$13cost=30%

Q: The economy of Carlsberg is presently in equilibrium, but is suffering a recession as depicted in…

A: Aggregate demand is the total amount of goods and services that all sectors of an economy are…

Q: You and your partner have become very interested in cross-country motorcycle racing and wish to…

A: Present worth (PW) is the current estimate of a sum of money that will occur in the future.…

Q: Use the following payoff matrix for a simultaneous-move one-shot game to answer the accompanying…

A: The optimal strategy in game theory is found by the best response method where no player has an…

Q: The State of Chiapas, Mexico, decided to fund a program for improving reading skills in elementary…

A: Equivalent Annual Cost (EAC) is a financial metric used to compare and evaluate different investment…

Q: Because of the increased global unrest, citizens in a small open economy are no longer travelling…

A: A small open economy refers to an economy that takes part in international trade, yet is small…

Q: Yowzah receives bids from four companies we'll call A, B, C, and D to supply product for the coming…

A: Fixed costs remain constant regardless of whether a business produces more or fewer units of a…

Q: 7. Effects of a tariff in a large nation The following graph shows the domestic market for oil in…

A: A supply and demand curve is a graph that illustrates the link between a market's availability of a…

Q: 100 90 80 70 PRICE 40 30 20 10 Figure 7-7 Supply Refer to Figure 7-7. If the government imposes a…

A: Total surplus is the sum of consumer surplus and producer surplus in a market. It represents the net…

Q: rcrombie & Fitch, once the favorite of loyal teens, is considering lowering prices on all items it…

A: Gross profit is the amount of money a company keeps after deducting all of the expenses incurred in…

Q: Consider a supply chain with the manufacturer, the retailer and end-users, using a revenue-sharing…

A: F = $120000c= $30w = $55b = $50 p = $122s = $14Demand1800192020402160Probability26%27%29%18%

Q: CHANGE FRC -12 -16 -20 Investment -24 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3…

A: In the above diagram consumption and investment, spending has given from 2000 - 08.

Q: An individual's Bernoulli utility function is u(w) = √w, and the individual has initial wealth 100.…

A: An individual has an initial wealth of 100 and the individual's Bernoulli utility function is given.…

Q: Assuming a agricultural water project that has an initial investment of 1 billion RMB and a time…

A: Given Cash flow after taxYear=5 years

Q: Using the given payoff matrix, what are both firm's dominant strategy Firm A High Low Firm A Low a.…

A: A dominant strategy is a concept in game theory that occurs when a player's choice of action leads…

Q: Use the direct capitalization approach to income valuation to calculate the market value of the…

A: The given question pertains to the valuation of a warehouse using the direct capitalization…

Q: CALCULATIONS More Saving 3 4 5 6 7 8 9 10 11 12 13 14 15 Consumption Goods Consumption Goods…

A: Let's denote the production of consumption goods as C and the production of capital goods as K. We…

Q: marginal proc capital means that as we add additional units of capital A. B. and labor, output will…

A: The law of diminishing marginal product of capital is an important concept in economics that…

Q: Generate real data for demand of a product comparing two seasons, Illustrate the concept of shift in…

A: Since you have posted two independent questions, according to our guidelines only the first question…

Q: In Country X ( population of 100 million), the GDP per capita for the year 2022 was $10,000, and the…

A: The Gross Domestic Product (GDP) is a measure that captures the monetary value of all final goods…

Q: The absolute value of the slope of the consumption-leisure budget line is the after-tax wage, w.…

A: Workers of Type A earn w for up to 40 hours of work each week and then 2w for any hours worked…

Q: Which of these production functions have diminishing marginal returns to labor? a)F(K,L)=2K+15L…

A: Marginal returns to labor (MPL) tells us the behaviour of output when there is change in additional…

Q: In the short run, if average variable cost equals $50, average total cost equals $75, and output…

A: It can be defined as the sum of all the costs of the product which does not change in the level of…

Q: If real income rises 3 percent, price rises by 5 percent, nominal money demand rises by 7 percent,…

A: The income elasticity of real money demand is a measure of how much real money demand changes in…

Q: Based on your previous answer, the long-run capital stock will standards of living will productivity…

A: With the scenario, An austerity program is a set of economic policies that aim to reduce government…

Q: Suppose that a firm produces polo shirts in a monopolistically competitive market. The following…

A: Monopoly refers to the market with only one seller of a particular product against numerous buyers.…

Q: If velocity does not chan​ge when the money supply of a country increases, will nominal GDP…

A: The velocity of money refers to the number of times a currency changes hand. The nominal GDP is the…

Q: ». Consider an economy with a constant population of N = 1,000. Individuals are endowed with y = 20…

A: Fiat money is a government-issued currency that is not backed by a commodity such as gold. Fiat…

Q: Suppose a competitive firm is paying a wage of $12 an hour and sells its product at $3 per unit.…

A: Marginal Revenue Product of Labor is the additional revenue earned due to employment of an…

Q: Consider the GSP auction used by Google for selling its advertising slots. Suppose there are two…

A: Auctions are a useful tool in economics for determining asset value and redistribution. They boost…

Q: A firm based in Mexico has found that its growth is restricted by the limited liquidity of the…

A: A capital market is a financial market where long-term obligation or value upheld protections are…

Q: Determine in how many hours each year the two motors must operate, in order to cost the two…

A: Given Data:MARR (Minimum Attractive Rate of Return) = 10% per yearOperating time: 1,000…

Q: Which volume of OMOS is required if banks expect to reduce their discount loans by $50 billion but…

A: Open Market Operations are a monetary policy tool used by central banks,  to control the money…

Q: The estimated short-run cost function of a Japanese beer manufacturer is 1.8 C(q) = 0.6q + 900 q

A: The functional relationship between cost and output is referred to as the "cost function." It…

Q: Suppose that a worker A may either have a low productivity of 1 or a high productivity of $2>01.…

A: Labour economics is the study of how individuals, businesses, and government officials influence…

Q: what is market f   suppose that if your income is 10000 your tax is 1000 but if your income is…

A: It can be defined as the charges levied by the government on the individual, firm, or any other…

Q: The table below shows the cost data of a furniture manufacturer named Cindy's Custom Made. a)…

A: (a) Table QTotal hoursAverage hours=total hours/QMarginal hoursTVC =14* total hours AVC= TVC/…

Q: R₁S₁, R₂S2, R3S3 and R4S4 are production possibility curves (PPC) for four different countries 1, 2,…

A: Opportunity cost refers to the value of the next best alternative that must be forgone when a…

Q: What would be annual percent interest cost of this whole loan package?

A: In this financial scenario, we are presented with a commercial finance company that is considering…