The closer a market's Herfindahl - Hirschman Index (HHI) is to there are firms in the market. A. 100; many B. 10,000; few C. 100; few D. 10,000; many the less competitive the market, which means
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- Demand forecasting is the art and science of predicting future market demand.Select one:a. Trueb. FalseVik and Fleet produce trainers in the sports-shoe market. For one of their main productsthey have the following demand curves: Vik PV =175 - 1:2Qv, Fleet Pf = 125 - 0:8Qfwhere P is in Rs. and Q is in pairs per week. The firms are currently selling 80 and 75 pairsof their products per week respectively.a. What are the current price elasticities for the products?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 demand
- 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(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 demand. Explain the difference between market equilibrium and market disequilibrium38. Suppose that a consumer's annual(income decreased by RO 300, causing a 15% decrease in the quantity of beef the consumer demands. If the consumer has an Ancome elasticjty of demand.of 1.0 for beef, what is her new income? a. RO 2700, b. RO 3000. C. RO 1700 d. RO 3300. 15 |-0 = 300 -1,7
- (dalle/16) 8- P 5-P₁ 4-A au Pob a ه های U.S. beef market h G4₂ Qu G₂ 113 130 135 ار ملامی Q (thousand tms) 10+Py 7oPs 8.71 k 2 0 P.91 Giv By 74 76 Japan beef market S CUA 26 D Q (tous)What is a consumers wishedfor level of performances?som Most markets have many buyers and sellers, each making plans independently. Therefore, markets the exchange between buyers and sellers..
- How does one analyze a market where both demand and supply shift?q= 2015 – 90p+p3 for O£ PE 40 q is the number of copres of the game that they caneypect to sell Cn thousants of cans) and pis the price of the game m dollors ) Find a prce elastiaity of demant queston Rrom this demant equatio n lallit E) *5kip this b> what wauk the pnce clasticity of demand that con be cxpcctcet if the gare 15 Sold for $ 25? s the demcind elastrc or melastic at this price? C.) what prce should the gane be sold at to get unit elasttcity of dnand? d) what quantity of games snoud be sot to get marmum revenue?he quantity demanded each month of Russo Espresso Makers is 250 when the unit price is $136. The quantity demanded ach month is 1000 when the unit price is $106. The suppliers will market 750 espresso makers when the unit price is $80 er higher. At a unit price of $100, they are willing to market 2250 units. Both the supply and demand equations are known o be linear. (a) Find the demand equation. -1 -x + 146 25 p = (b) Find the supply equation. 1 x+ 70 p = 75* (c) Find the equilibrium quantity and the equilibrium price. |× units
