• The demand curve is flatter (more horizontal) the closer the substitutes for the product and the less diminishing marginal utility is at work for the buyers. • The dependent variable in demand analysis is the quantity (the number of units) sold. The independent variables are price‚ income of buyers‚ the price of substitutes‚ and the price of complements. • An increase in income shifts the demand curve to the right for normal good. It goes to the left for an inferior good. • An increase in the
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123 Spruce St‚ Apt 35 Philadelphia PA 19103 Gayle L. McDowell (555) 555-1212 gayle@careercup.com Employment Software Engineer‚ Intern Apple Computer Summer 2004 iChat AV Reduced time to render the user’s buddy list by 75% by implementing prediction algorithm. Implemented iChat integration with OS X Spotlight Search by creating tool which extracts metadata from saved chat transcripts and provides metadata to a system-wide search database. Redesigned chat file format and implemented
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Compensated Demand Curve Definition: the compensated demand curve is a demand curve that ignores the income effect of a price change‚ only taking into account the substitution effect. To do this‚ utility is held constant from the change in the price of the good. In this section‚ we will graphically derive the compensated demand curve from indifference curves and budget constraints by incorporating the substitution and income effects‚ and use the compensated demand curve to find the compensating
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Marketing Strategy for Procter & Gamble’s Tide® Liquid Laundry Detergent Measure Trigger Paul Lane Marketing 1001 Professor Norman Hansen February 20‚ 2010 Abstract Procter & Gamble (P&G) and its competitors package laundry detergents in various sizes and packaging alternatives. Tide® liquid laundry detergent is available in sizes ranging from 40 ounces (25 loads) to 150 ounces (96 loads). Current packaging requires lifting and pouring from bottles weighing over nine
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speak today is a network of words connected by syntactic associations. Networks are everywhere. Yet despite the importance and frequency of such complex networks‚ little is understood of their properties and structure. How do viruses diffuse so rapidly in communication systems? How do some networks continue to function even after a vast majority of their nodes have failed? Is it possible that everyone is connected by six handshakes? For much of the last century‚ scientists treated all complex
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through his rich comparisons to nature and ordinary life. In “The Tide Rises‚ The Tide Falls” he compares the continuous rising and falling of tides to a nameless traveler‚ and in his poem‚ “Nature” he compares nature and humans as the relationship between a strict mother and her child. In Longfellow’s poem‚ “The Tide Rises‚ The Tide Falls” he fluently articulates the differences between tides and a nameless traveler. Symbolically‚ the tides represent the continuous cycle of life and the traveler just
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increase their output of the product which would only increase the negative effects of the product. Decreasing societies health and satisfaction. Graphs C‚ shows the effect of negative externalities on a graph. The supply line is shifted right‚ increasing quantity (Q2) produced and the price decreased to P2. The allocatively efficient point is at P1 and Q1 on graphs C because that is when the firm has been held responsible for the costs of their products on initial consumers and the affected 3rd party‚
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developing Tide Pods‚ and thus far‚ it appears that their work has paid off. Tide Pods have claimed a 68% market share in the new laundry pods category‚ which now accounts for 7.3% of the total multibillion dollar laundry industry (Monk‚ Tide Pods successful enough to boost P&G’s earnings). Tide Pods are unit-dose liquid packets that are twice as compacted as liquid detergent. They contain three different chambers and products: a liquid detergent‚ stain remover‚ and brightening agent. Tide Pods unique
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Spotlight on the theory Indifference Curve Analysis The aim of indifference curve analysis is to analyse how a rational consumer chooses between two goods. In other words‚ how the change in the wage rate will affect the choice between leisure time and work time. Indifference analysis combines two concepts; indifference curves and budget lines (constraints) The indifference curve An indifference curve is a line that shows all the possible combinations of two goods between which a person is
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is the curve resulting when the above data is graphed‚ as shown below: Production Possibility Frontier The PPF shows all efficient combinations of output for this island economy when the factors of production are used to their full potential. The economy could choose to operate at less than capacity somewhere inside the curve‚ for example at point a‚ but such a combination of goods would be less than what the economy is capable of producing. A combination outside the curve such as
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