This website uses cookies to ensure you have the best experience. Learn more

Econ Essay

952 words - 4 pages

4. All of the following are example of entry barriers, except
a. Government protection through pattern or licensing requirements.
b. Strong brands
c. Low capital requirements for entry
d. Lower costs driven by economies of scale
7. If a firm successfully adopts a product differentiation strategy, what should happen to the elasticity of demand for its product?
a. Increase
b. Decrease
c. Become unit elastic
d. Is unaffected
10- 6 Salons and Teeth Whitening
Salon owners have recently started offering teeth whitening services to clients in addition to their more standard services. In a number of states, regulators have ordered the salon owners to stop, claiming that this service ...view middle of the document...

b. The dollar would depreciate relative to the peso, and Mexican prices would decrease.
c. The dollar would depreciate relative to the peso, and Mexican prices would increase.
d. The exchange rate would not be affected, and neither would Mexican prices.

11- 3 Evaluating Appreciation
Explain how both Japanese consumers and producers would view an appreciation of the Japanese yen versus the U. S. dollar.

If the Japanese yen appreciates over, the U.S. firm converted yen to dollar value at a lower exchange rate than the rate at which it paid for yen at the time. This resulted in an affect by appreciation. Its cost of borrowing will be higher. Consumers will spend less and producers will spend more on products.

Chapter 12

1. After massive promotion of Justin Bieber’s latest music album, the producers reacted by raising prices for his albums. This implies that promotion expenditures made the album demand
a. More elastic.
b. Unitary elastic.
c. The change is due to psychological pricing.
d. Less elastic.

5. After firm A producing one good acquired another firm B producing another good, it raised the prices for the bundle of goods. One can conclude that the goods were
a. Substitutes.
b. Complements.
c. Not related.
d. None of the above
12- 3 App Pricing for Droids
Every week, more and more apps (applications) are available for Droid- based smart phones. How does this affect the optimal price for Droid- based smart phones?
This positively increases the revenue of the droid based phone. We are trying to get to the point where MR=MC. The optimal price is being maximized when the revenue is greater than the cost; the revenue is greater than the cost of the phone as applications are being available on a weekly basis.
Chapter 14

5. What is the total profit to the monopolist from selling the goods separately?
...

Other assignments on Econ

Econ Essay

1447 words - 6 pages 1. Determining changes in equilibrium price and quantity for a perfectly competitive industry given changes in demand and/or supply (Ch. 2, p. 60-65; Class Notes) A. Graphical analysis given demand and supply curves a) While there is increased awareness of Vitamin C available from orange juice, a hard, freezing winter occurs in most of the orange producing areas. Demand increases while supply decreases. b

Econ Essay

4124 words - 17 pages 1. Improvements in technology for producing all goods must result in (A) an inward shift in the production possibilities curve (B) an outward shift in the production possibilities curve (C) a flatter production possibilities curve (D) a steeper production possibilities curve (E) greater unemployment of labor 2. The quantity of peanuts supplied increased from 40 tons per week to 60 tons per week when the price of peanuts

Econ 308 Midterm

2720 words - 11 pages Econ 308 Midterm (Average Revenue) (Marginal Revenue) 1.) a.) # Of Operations | Total Harvest | Average Harvest | Marginal Harvest | Marginal Profit 0 0 0 0 0 1 40 40 40 15 2 75 37.5 35 10 3 105 35 30 5 4 130 32.5 25 0 5 150 30 20 -5 6 165

Econ 545 - Project 1

3096 words - 13 pages Deandra Romanoff ECON 545 May 25th, 2014 It is indeed very lucrative for potential owners to purchase gas stations in our current economic condition where gas prices are at sky high, especially in places where public transportation is scarce. On average, the whole United States have faced an increased in gas prices nearly 5 cents from March 21st, 2014 to April 4th, 2014 (Reuters, 2014). According to Reuters, Lundberg survey has shown that

Devry Econ 545 Entire Course

434 words - 2 pages This document of DEVRY ECON 545 Entire Course consists of: DEVRY ECON 545 Week 1 DQs 1 Supply and Demanв DEVRY ECON 545 Week 1 DQs 2 Elasticity and the Minimum Wage DEVRY ECON 545 Week 2 DQs 1 Marginal Analysis DEVRY ECON 545 Week 2 DQs 2 Controlling Costs DEVRY ECON 545 Week 2 Project Part 1 DEVRY ECON 545 Week 3 DQs 1 Mergers Acquisitions DEVRY ECON 545 Week 3 DQs 2 Anti-Trust Policy and Microsoft DEVRY ECON

Econ 130

1462 words - 6 pages Chapter 1: The Core Issues Dr. Yu ECON130 Principles of Microeconomics What Is the Economy? 1. The Economy is us. 2. It is the grand sum of all our production and consumption activities. 3. For the United States, it is the collective behavior of the 320 million individuals who participate in it. The Core Issues The purpose of an economy is to produce goods and services that satisfy peoples’ wants using the limited

Econ 550

400 words - 2 pages Income Statements | 2012 | 2013 | Sales | $3,432,000 | $5,834,400 | Cost of goods sold except depr. | 2,864,000 | 4,980,000 | Depreciation and amortization | 18,900 | 116,960 | Other expenses | 340,000 | 720,000 | Total operating costs | $3,222,900 | $5,816,960 | EBIT | $209,100 | $17,440 | Interest expense | 62,500 | 176,000 | EBT | $146,600 | ($158,560) | Taxes (40%) | 58,640 | -63,424 | Net

Econ 2450

1205 words - 5 pages PRACTICE QUESTIONS QUESTION 1: Consider a government that is contemplating introducing a gasoline tax to reduce gasoline consumption together with a (lump-sum) rebate to consumers to alleviate the negative e ect of the gasoline tax on their well-being. Use an indi erence curve map for two goods (gasoline and other goods) to show (a) the equilibrium if the rebate is based on the nal (post-tax) consumption of gasoline, (b) the equilibrium

Econ Final

3205 words - 13 pages * The date when you finished the final exam: December 13 2013 You are advised to print a copy of this exam and read it prior to taking it. Make sure you have a word processor to use during the above dates (at home or work, in a lab or a public library, etc.). Do not use the small textbox to write your answers in WebTycho. Send me the electronic file with your answers as an attachment through the Assignments link! Please do not delete the

Econ Crap

760 words - 4 pages How To Reduce Federal Deficits Like most Americans I want to educate myself in ways to reduce the deficit of this nation so I can sleep more sound at night. U.S. federal deficits should be reduced by cutting certain entitlement programs, implementing privatization, and increasing taxes on the rich. In this essay, I will provide hard facts that will not only reduce federal deficits, but also increase productivity and employment. These are

Econ Tutorial

828 words - 4 pages UNIVERSITY OF TECHNOLOGY, JAMAICA SCHOOL OF BUSINESS ADMINSTRATION ECO 1001: INTRODUCTION TO MICROECONOMICS TUTORIAL #1 1. Which of the following is the best definition of economics? a) The study of how individuals and societies choose to use the scarce resources that nature and previous generations have provided. b) The study of how consumers spend their income. c) The study of how business firms decide what inputs

Similar Documents

Econ Essay

352 words - 2 pages Associate Level Material Appendix B Price Elasticity and Supply & Demand Fill in the matrix below and describe how changes in price or quantity of the goods and services affect either supply or demand and the equilibrium price. Use the graphs from your book and the Tomlinson video tutorials as a tool to help you answer questions about the changes in price and quantity |Event |Market affected by event

Econ Essay 1824 Words

1824 words - 8 pages Econ545 Paper Business Economics GM545 Spring 2011 Everyone’s Gasoline Problem. We are all familiar with fluctuating prices of gasoline at the pump. Why does this happen? Research the recent history of gasoline pricing in your area, and attempt to relate any fluctuations you observe to documented supply and demand factors, as outlined in our book. By the end of the 6-week period of November 19th –December 31, gas prices in Chicago had risen

Econ Essay 761 Words

761 words - 4 pages Assume that a cargo ship carrying the merchandise of a cloth merchant has been wrecked. Such a setback will be accounted as the merchant’s: Part I: Choose the one alternative that best completes the statement or answers the question. (1 Point each) 1. Which of the following is a positive statement? a. Heavy snowfall drives up the demand for heaters. b. Fiscal expenditures should be increased to combat recession. c. Government should

Econ Essay 290 Words

290 words - 2 pages opic: Some economists support higher minimum wage whereas some don't. What is your opinion? Minimum wage should be outlawed for the disruption it creates in the economy because it makes jobs just as valuable to workers depending on wage, hinders certain industry from growing as fast as others, and removes the honesty of wage based on performance. For non-related industries such as gardening and law enforcement, workers get paid at a minimum