Unit 4 Assignment Student Name: Please answer the following questions. Submit as a Microsoft Word® document to the Dropbox when completed. 1. How does the demand curve faced by a perfectly competitive firm differ from the market demand curve in a perfectly competitive market? Explain. The demand curve for a good or service produced in a perfectly competitive market is downward sloping. In a market demand curve‚ the line is horizontal because the price is set at market value
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Cartel Theory of Oligopoly A cartel is defined as a group of firms that gets together to make output and price decisions. The conditions that give rise to an oligopolistic market are also conducive to the formation of a cartel; in particular‚ cartels tend to arise in markets where there are few firms and each firm has a significant share of the market. In the U.S.‚ cartels are illegal; however‚ internationally‚ there are no restrictions on cartel formation. The organization of petroleum-exporting
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1. What are Croc’s core competencies? One of Croc’s core competencies is its revolutionary supply chain as discussed in class. Crocs have the ability to manufacture and deliver its products to retailers rapidly and produce an excessive quantity to avoid customer dissatisfaction. According to the case‚ in the traditional industry‚ retailers can only place bulk orders for each season many months in advance with little ability to make changes during the selling season. On the other hand‚ Croc’s model
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Cabo san viejo – rewarding loyalty? Cabo san viejo is currently facing a problem of increasing competition and customer retention. To solve this‚ there is a dilemma of adopting a loyalty program or not. However our mission is only to meet competition and increase sales and not to resort to loyalty programs. We considered the following factors before deciding against choosing a loyalty rewarding program. facts In a survey‚ of 2500 Americans nearly 50% of the loyalty program members said that
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ME Assignments‚ TERM-1 ➢ LAST DATE OF SUBMISSION- 20.09.12 Roll no. Questions 12DM001 1.If the market demand curve is given by QD=15-8P and the market supply curve QS=2P‚find the equilibrium price & quantity graphically & mathematically. 2.Suppose the technology to manufacture computers improves but due to some recession in the economy ‚the income of the consumer falls. Assuming computers to be normal good‚ what will be the equilibrium price & quantity
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(b) Critically evaluate the Baumol model and examine its contribution to the genre of management models. Explain the economic significance of both the price elasticity of demand and rival price reactions in achieving the objectives. In your reply refer to and support your answer with case study material Baumol model and its contribution to the genre of management models In the world of business‚ management need to make lots of decision on daily basis. Those decisions will eventually affect company’s
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Class Test on Micro Economics Grade 12 CBSE Mgmt i) All questions in this section are compulsory ii) Marks for questions are indicated against each iii) Answers for very short answer questions carrying 1 mark must be answered in ONE sentence each iv) Answers for short answer questions carrying 3 marks each should not normally exceed 60 words v) Answers for short answer questions carrying 4 marks each should normally not exceed 70 words vi) Answers for long
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MBA 515 Practice Multiple Choice Questions 1. If the price of automobiles were to increase substantially‚ the demand curve for gasoline would most likely A) shift leftward. B) shift rightward. C) remain unchanged. D) become steeper. 2. Recently‚ many cities have attempted to pass laws taxing the sale of sugary drinks such as soda pop. If one of these laws passes‚ we would expect A) the supply curve for soda pop to shift to the right. B) the supply curve for soda pop to become more vertical
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12.1 Suppose your elasticity of demand for your parking lot spaces is -2‚ and price is $8 per day. If your MC is zero‚ and your capacity is 80% full at 9 A.M. over the last month‚ are you optimizing? We are clearly not optimizing because we are only optimized when marginal revenue equals marginal cost. Because our costs are sunk we should lower our prices so that we can fill to capacity. 14.4 A manufacturer of microwaves has discovered that male shoppers have little value for microwaves and
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• Operating Profit Margin (OPM) Operating Profit Margin shows the relationship between the cost and the revenues. As the company grows the fixed cost should be a small percentage of the total cost and the OPM should increase. A low OPM means that the company has a low cost operating system. Boeing recorded an OPM of 7.6% in 2013 and it was 7.7% in 2012. There is a slight decrease in the year 2013. Though the revenues increased the general and administration expenses has increased by 6.4% in 2013
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