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Consider the market for rainbow sandals. Suppose average household income increases from $44,000 per year to $61,000 per year. As a result, the demand for rainbow sandals increases from 427 to 535.
assuming elasticity is linear and a plan flight holds 310 seats a load factor of 70 mean 70% of the seats are filled. a load factor of 72 means 72% of the seats are filled. what price would it take
Each bank teller workstation is forecasted to process 400 transactions (the end-item) on Friday. The bank is open from 9:00 am to 7:00 pm on Friday with 90 minutes for lunch and breaks. Three teller
Assuming there are only 30 stocks in the world, and the annual rates of return (Xi) are following: Xi Xi+100 Xi*100 Frequency(Number of stocks) a) What are the mean and median rates of return b) What
The following payoff table summarizes gross profits (before compensation), arising from two different levels of effort and factors outside of the manager's control (stage of the business cycle and
An automobile is priced at $ 7,000. A buyer may purchase the car for $ 6,500 now, or alternatively, the buyer can make a down payment of $ 1,000 now and pay the remaining $ 6,000 in eight equal quar
Bounds Inc.has determined through regression analysis that its sales (S) are a function ofthe amount ofadvertising (measured in units) in two different media
Major overhaul expenses of $5,000 each are anticipated for a large piece of earthmoving equipment. The expenses will occur at EOY four and will continue every three years thereafter up to and includ
In 1989, the Detroit Free Press and Detroit Daily news (the only newspapers in the city) obtained permission to merge under a special exemption from the antitrust laws. The merged firm continued to
The market demand curve will thus take the form P=a-bQ and the market supply curve will take the form P=cQ+d suppose that some market consists of 100 buyers and 10 sellers. Each buyer has an identica
Over a period of years, a toothpaste has received a mean rating of 5.9, on a 7-point scale, for overall customer satisfaction with the product. Because of a minor unadvertised change in the product
Define Q to be the level of output produced and sold, and assume that the firm's cost function is given by the relationship TC = 20 + 5Q + Q2 Furthermore,assume that the demand for the output ofthe fi
Mary DeFontes bought a computer and a service contract from Dell Computers Corp. DeFontes was charged $950.51, of which $13.51 was identified on the invoice as "tax." This amount was paid to the sta
What would you expect to happen to the number of applicants if the starting salaries of manager with M.B.A. degrees remained constant but salaries of manager without such degrees increased by 15 per
The Eastern Shuttle Inc., is a regional airline providing shuttle service between New York and Washington, DC. An analysis of the monthly demand for service has revealed the following demand relatio
Carnack contracts to sell his house and lot to Willard for $100,000. The terms of the contract call for Willard to pay 10% of the purchase price as a deposit toward the purchase price, or as a down
Leon and Heidi decided to invest $3,000 annually for only the first eight years of their marriage. The first payment was made at age 25. If the annual interest rate is 10%, how much accumulated inte
Today the average undergraduate student is responsible for paying off a $3,500 balance on his credit card. Suppose the monthly interest rate is 1.75% (21% APR). How many months will it take to repay
If in an economy a $150 billion increase in investment spending creates $150 billion of new income int he first round of the multiplier process and $105 billion in the second round, the multiplier a
What is the minimum increase in income necessary for the consumer to be as well off under price px = 1, py = 2, as she/he was at prices px = 1, py = 1 Explain why the percentage increase is smalle
The local supermarket buys lettuce each day to ensure really fresh produce. Each morning any lettuce that is left from the previous day is sold to a dealer that resells it to farmers who use it to f
a) Just to provide the 2.7 billion "severely" poor population with $1 more output per day b) To raise the incomes of the world's "severely poor" population (income less than $2 per day) to the offic
In need of a new toner cartridge for my laser printer I came across the online retailer, supermediastore.com. Their policy is that all orders for $25 or more ship for free. My toner cartridge was $1
Customer orders are placed, the order is picked and packaged, and then shipped to the customer. A fixed order quantity inventory control system helps monitor and control these SKUs. The following in
A company is now licensed to manufacture a patented tool on which the patent has only 7 more years to run. The company makes 7500 copies of the tool each year and pays the inventor $100 per year plu