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- Identify nine common pricing methods.The following table displays data about demand for smart phones. Points P Q A 6060 3,0003,000 B 7070 2,8002,800 C 8080 2,6002,600 D 9090 2,4002,400 E 100100 2,2002,200 F 110110 2,0002,000 G 120120 1,8001,800 H 130130 1,6001,600 Step 1 of 2 : Using the midpoint method, calculate the price elasticity of demand from Point F to Point G. If necessary, round all intermediate calculations and your final answer to two decimal places.Suppose there are only two gas stations in the remote town of Nome, Alaska and they are competitors. If one of them goes out of business, what will happen to the demand curve for the remaining gas station? In addition, what do you think will happen to prices? The graph below shows a demand for gasoline, with the price of gas and the sales of gas shown below on the graph. P P1 14 22 P2 32 D2 D1 Q1 Q2 Q3 The demand curve will pivot from D1 to D2 and prices will rise as demand becomes more inelastic. The demand will shift to the left, indicating lower demand when there are fewer stations. The demand curve will not change since everyone needs gas no matter what the price. The demand curve will pivot from D2 to D1 and prices will rise as demand becomes more inelastic. 00
- The following are excerpts from the article: Stirring the Pot . $80 Coffee Beans – Yikes! Bangor Times. May 22nd, 2016. “ The Third Wave in coffee refers to the growth of small, independent coffee roasters who developed as an alternative to Starbucks when that company grew and disaffected coffee drinkers looked for alternative sources for their caffeinated drinks." “..companies of this type provide a relatively small clientele with great tasting coffees and verified attributes in the sourcing of coffee beans- organic, shade-grown, bird friendly, direct trade (it's better than fair trade), single-farm sourced, etc". "For a Third Wave coffee company, the goal is to satisfy existing consumer interest or create new consumer interest in attributes that its customers believe only that company can offer." ...firms are always trying to create new and better differentiation to set themselves apart from those who have been successfully earning monopoly profits. This very phenomenon is seen as…The following are excerpts from the article: Stirring the Pot . $80 Coffee Beans – Yikes! Bangor Times. May 22nd, 2016. “ The Third Wave in coffee refers to the growth of small, independent coffee roasters who developed as an alternative to Starbucks when that company grew and disaffected coffee drinkers looked for alternative sources for their caffeinated drinks." "..companies of this type provide a relatively small clientele with great tasting coffees and verified attributes in the sourcing of coffee beans- organic, shade-grown, bird friendly, direct trade (it's better than fair trade), single-farm sourced, etc". "For a Third Wave coffee company, the goal is to satisfy existing consumer interest or create new consumer interest in attributes that its customers believe only that company can offer." ...firms are always trying to create new and better differentiation to set themselves apart from those who have been successfully earning monopoly profits. This very phenomenon is seen as…Suppose that Zimal and Zawaiyar are the only consumers of perfumes in a particular market. The following table shows their annual demand schedules: Price (Per Bottle of Perfume) Zimal’s Quantity Demanded Zawaiyar’s Quantity Demanded Market Supply 100 600 650 250 200 500 550 450 300 400 450 850 400 300 350 1050 500 200 250 1250 600 100 150 1450 Given the following information construct market demand curve and find the market equilibrium.
- The following are excerpts from the article: Stirring the Pot . $80 Coffee Beans – Yikes! Bangor Times. May 22nd, 2016. “ The Third Wave in coffee refers to the growth of small, independent coffee roasters who developed as an alternative to Starbucks when that company grew and disaffected coffee drinkers looked for alternative sources for their caffeinated drinks." "...companies of this type provide a relatively small clientele with great tasting coffees and verified attributes in the sourcing of coffee beans- organic, shade- grown, bird friendly, direct trade (it's better than fair trade), single-farm sourced, etc". "For a Third Wave coffee company, the goal is to satisfy existing consumer interest or create new consumer interest in attributes that its customers believe only that company can offer." "...firms are always trying to create new and better differentiation to set themselves apart from those who have been successfully earning monopoly profits. This very phenomenon is seen as…Aruna owns Pottery Plus, a small firm that produces terra cotta pots for sale in the Edmonton area. The graph below shows Aruna's demand curve. Price ($) 40 36 32 28 24 20 16 12 8 4 0 4 8 12 16 20 24 28 32 36 40 Quantity per periodPrice S2 Quantity Refer to Figure 3-8. The graph in this figure illustrates an initial competitive equilibrium in the market for motorcycles at the intersection of D2 and S2 (point E). If the technology to produce motorcycles improves and the number of buyers increases, how will the equilibrium point change? O The equilibrium point will move from E to A. O The equilibrium point will move from E to B. O The equilibrium point will move from E to C. O The equilibrium point will remain at E.
- Predict what will happen in the hot dog (franks) market if the Heinz Petition succeeds in persuading bakeries to package hot dog buns in packages of 10 (instead of 8) while at the same time hog farms increase their breeding efforts. First, assume Hot dog franks and buns are complements. The Heinz Petition is likely to affect demand for hot dog franks since it will no longer be necessary to buy 2 packages of buns for one pack of hot dogs. Will this increase or decrease demand? (please answer) Please draw a graph (below) to show the change and the effects on the new equilibrium. Be sure to label it. Did price increase of decrease? (please answer) Did quantity increase or decrease? (please answer) Second, “….while at the same time hog farms increase their breeding efforts.” Is this a demand or supply issue? (please answer) Will this increase or decrease it? (please answer) Please draw a graph to show the change and the effects on the new equilibrium. Be sure…USE TABLE #1: When illustrating the market for electric automobiles, the supply curve for electric automobiles is labeled _____ and the demand curve for electric automobiles is labeled _____. Group of answer choices D; S S; D S; Qd Qs; DConsider a town in which only two residents, Jacques and Kyoko, own wells that produce water safe for drinking. Jacques and Kyoko can pump and sell as much water as they want at no cost. For them, total revenue equals profit. The following table shows the town's demand schedule for water. fill in every blank!! NOTE: options for first drop down question is (decreases or increases) options for second drop down question is (tying, a tit for tat strategy, a dominant strategy, a prisioners dilemma)