rate of 3%? Answer: P = $40/(0.05 - 0.03) = $40/0.02 = $2‚000 Topic 2: Supply and Demand 1) Suppose that the demand for oranges increase. Explain the long -run effects of the guiding function of price in this scenario. Answer: In the long run‚ the higher price of oranges will signal more firms to enter the orange market‚ as it will seem more profitable than some other markets. As firms enter‚ supply increases‚ causing the price to fall relative to the short-run price and quantity
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What are the uses of National Income figures? Before understanding the uses of National Income figures it is of the utmost importance to define National Income and the three methods used to calculate it. National Income is the aggregate money value of goods and services produced by the factors of production over a given period of time in a country. It is the annual report and as a result it is referred as the real income‚ that is‚ income measured in terms of goods and services. When there is income
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1. Suppose there are 100 consumers with identical individual demand curves. When the price of a movie ticket is $8‚ the quantity demanded for each person is 5. When the price is $4‚ the quantity demanded for each person is 9. Assuming the law of demand holds‚ which of the following choices is the most likely quantity demanded in the market when the price is $6? Explain and show calculations‚ While the question asks of the choices given what the quantity demanded will be‚ there are no choices
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Examples 6.3‚ 6.4‚ and 6.5 (page 338) – Large Sample Hypothesis Test of a Mean Example 6.3 A manufacturer of cereal wants to test the performance of one of its filling machines. The machine is designed to discharge a mean amount of 12 ounces per box‚ and the manufacturer wants to detect any departure from this setting. This quality study calls for randomly sampling 100 boxes from today’s production run and determining whether the mean fill for the run is 12 ounces per box. Set up a test of
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exchange rates are determined 2. The scarcity principle implies that A. people will never be satisfied with what they have B. as wealth increases‚ making choices becomes less necessary C. the prices of scarce goods must rise due to excess demand D. choices must be made and tradeoffs will occur 3. The ’no-free-lunch’ principle is another name for the A. cost-benefit principle B. the scarcity principle C. the ceteris paribus principle D. the marginal (not average) principle
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there is discrimination against them in other areas of the city. Rents paid are a very high percent of peoples’ incomes. (a) Would the demand for apartments in this area be relatively inelastic or relatively elastic? State why. (b) Would the supply of apartments in this area be relatively inelastic or relatively elastic? State why. 1 (c) Draw the demand and supply curves as you have described them‚ showing the initial equilibrium price and quantity. Label carefully. (d) Now assume the government
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Tropicana 1. Situation Analysis 1. Mission 2. Industry Analysis 1. PEST 2. Five Forces 3. Competitor Analysis 3. Critical Success Factors Matrix 4. Company and Management Background 4. Team 5. Legal Structure 6. Protection (patents‚ copyrights‚ etc.) 7. Macro SWOT Analysis 2. MACRO Challenges‚ Goals and Objectives 3. Segmentation 5. Define potential market segments 8.
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Best Was orange juice always just here? What is the difference between the different types? Why does everyone like it cold? Is it a sustainable product the way Tropicana is running their processing plant? Are there ethical issues with orange juice production?I began to wonder one day as I was looking in the store‚ in the orange juice aisle. This paper is a journey into orange juice through the popular Orange juice company‚ Tropicana .I chose this company because this was a juice that I had grown
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http://www.bnet.com/blog/advertising-business/in-blow-to-arnell-tropicana-drops-package-redesign/619 http://www.logodesignlove.com/peter-arnell-defends-tropicana-rebrand Tropicana Premium Orange Juice is one of the top brand in orange juice which is manufactured in America. They have a strong market share and their priority is to serve the best quality of fresh orange juices made from the best oranges in town. Tropicana Premium Orange Juice is one of the subsidiary of Pepsi Company. After such
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Demand and supply is an economic system and fundamental concepts for economics who as determined the price of market. It was conclusion‚ the unit price level of a good essentially was determined by the point who demands and supply was intercept in a same level and same point. The price system only working in a market economy if they’re having a free choice with the market. Demand is represent how many about the quantity of a goods is what the customers wanted. Its refer to about the ability
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