Explain the intuition behind the rule of thumb for pricing
Use the rule of thumb for pricing and Compute optimal price)
Explain the intuition behind the rule of thumb for pricing. If the elasticity of demand is -5 and the marginal cost is $20 per unit, illustrate what should the price be?
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Illustrate what would output be if DD acted like a perfect competitor and set P=MC. Illustrate what is the deadweight loss of the monopoly.
Explain the intuition behind the rule of thumb for pricing. If the elasticity of demand is -5 and the marginal cost is $20 per unit, illustrate what should the price be.
You will first require to find out the sample mean and sample standard deviation based on confidence interval given. Employ the value you found in part a to determine the degree of confidence for interval 65.65 < μ < 66.75 is based on.
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Illustrate what will the equilibrium quantity be. Illustrate what will the new equilibrium price be. Illustrate what determines the burden of taxation.
The sample has a mean weight of 15.3 pounds and standard deviation of 1.9 pounds. Make a 95% confidence interval estimate for true mean weight of all packages received by parcel service.
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