possible demand curves for its own output‚ as illustrated below. The first (A) prevails if other oligopolists don’t match price changes. The second (B) prevails if rivals do match price changes. Price ($) $10 9 8 7 6 5 4 Demand A 3 2 1 Demand B 0 2 4 6 8 10 12 14 Quantity (units per period) a) By how much does quantity demanded change if price is reduced from $10 to
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Music History: Double Bass 1. When was the inception of your instrument? In 1493‚ there was mention about "viols as big as myself" by Prospero‚ and in 1516 there was an illustration closely resembling that of a double bass. 2. Describe your instrument and how it is played. The double bass also referred to as an upright bass or contrabass‚ is the one of the largest and lowest pitch sounds of all string instruments. It is unique in that it is capable of playing an octave lower than the
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Arrrggghhhh‚ I ’m A Music Pirate How do you know you are not a thief? Downloading free music from the internet without permission from the copyright holder constitutes stealing. In the last six years record sales have dropped and illegal downloads have increased significantly. There are two different organizations that are actively participating in the solution to this problem. There are people in the music industry who stand on both sides of the fence. Some say that downloading music without permission
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The price ceiling is the maximum price a seller is allowed to charge for a product or service. An impact on society includes when the prices are so high of a product‚ that no one can buy it. A price floor is the lowest legal price a product or service can be sold at. When market price is at its lowest‚ it may still be too high for consumers to purchase products. Governments can intervene for any purpose‚ and they are the ones who set these price controls. Governments may intervene in the market
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contribute to rising gasoline prices. The major cause for increasing gasoline prices has to do with refining capacity. Even if oil were inexpensive‚ we would still have a problem converting it into the gas that fuels our economy. That is what keeps the gas prices high. When gas supplies are short‚ due to an “inability to refine crude oil into gas efficiently‚” prices increase. This is a component of supply and demand economics. In a positive aspect‚ rising gasoline prices do serve a purpose; they
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suppliers and so on. A hedger is someone who wants to avoid or at least minimize price risk at all costs (Cheney‚ 2012). There are also people that are considered a speculator. Recently I have become a speculator within the wheat futures market. Wheat is the fourth-biggest U.S. crop‚ valued last year at $14.4 billion. (Wilson‚ 2012) Being a speculator‚ I was hoping to make a profit by accepting all risks associated with price variations. Personally‚ as a speculator‚ I have no interest in the commodity
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and Government-set Prices A. Short-Answer‚ Essays‚ and Problems New 1. The president of a toy company asks you for advice about whether the company should cut the price of its best-selling doll this year based on the following information: last year the company cut the price of its best-selling doll by 10% and the total revenues from doll sales increased by 10%. New 2. The owner of a health club asks you for advice about whether the company should raise the price of its membership
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weighted unless indicated to the contrary: Provide sufficient reasoning to back up your answer but do not write more than necessary. This examination consists of 12 questions. Answer each question on a separate page of the exam book. Write your name and student number on each exam book that you use to answer the questions. Good luck! ~ ~1; r 1~~t E )’HC.)c.. ? .113 Suppose call and put prices are given by Strike Call premium Put premium 80 22 4 100 9 21 (IJ
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Lately‚ there has been a lot of commotion about the assumption that specific kinds of music are wrongly influencing the younger generation‚ mainly focusing on Hip Hop artists such as Lil Wayne‚ Jay-Z‚ and Eminem. Some people are even going so far as to blaming Hip Hop for the most horrific and violent events of our time. Researchers‚ parents and other adults of the generation before claim that this music has a negative effect on their children. I disagree with this accusation and in the remainder
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Nischay Kumar MGMT 301 Sec 003 Dr. Sherron Sparks 1/25/12 “Be the Manager” Essay 1 As the new manager of a major clothing store that is currently facing a crisis‚ it is my job to answer‚ resolve‚ and communicate with my fellow managers and employees. I have analyzed what has happened to the task environment of this store; low sales and poor customer service. With sales dropping to a mere 30% due to competition and supply‚ I have devised a program that will help the managers‚ employees‚ and
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