1. award: 1.50 out of 2.50 points The demand curve for product X is given by QXd = 500 - 5PX. a. Find the inverse demand curve. PX = 100 - 0.2 QXd Instructions: Round your answer to the nearest penny (2 decimal places). b. How much consumer surplus do consumers receive when Px = $45? $91.00 c. How much consumer surplus do consumers receive when Px = $25? $95.00 d. In general‚ what happens to the level of consumer surplus as the price of a good falls? The level of consumer surplus
Premium Supply and demand
competitive strategy and operations strategy under different internal and external situation. From the perspective of competitive strategy‚ first Mr. Liang took the overall cost leadership strategy. As he well understood the competitive edge of his company was offering cheap labor and cheap land‚ he offered a very low price to the customers. By doing that‚ Galanz beat the competitors away as they could not make big profit and Galanz gained a big market share within a short period of time. At the same
Premium Marketing Management
Hewlett-Packard Company Deskjet Printer Supply Chain (A) Table of Contents Introduction: 3 Problem identification: 3 Recommendations and solution 5 Strategies to be adapted: 5 A. Postponement or Delayed Customization: 5 B. R&D in Europe and Asia 5 C. Investing in information: 6 Strategies to be altered: 6 I. Quick response can be used‚ along with improved and more accurate forecasting: 6 II. Ordering quantity that would allow HP to provide a certain service level:
Premium Inventory Hewlett-Packard
3. Demand and Price Elasticity It is important to understand how price changes affect the demand of fast food especially for firm like McDonald that operates in a Monopolistic Market. When McDonalds offers its discounted Value Meal during lunch and dinner hours‚ the demand for McDonald’s products will increase. According to the law of demand‚ other things equal‚ the quantity demanded of a goods increases when the price of the good falls. (N.Geogory Mankiw et al.‚2013). A change in price will affect
Premium Supply and demand
and scientists. Because‚ scientists interest is to serve the public but industries interest is to make short-term profit. This problem is considered to affect the quality and reliability of the research. In addition‚ misleading messages by funded companies it might be occurred. For example‚ research generates results that suit the funder (The Journal of the American Medical Association‚ 290‚ p 921). This problem is well known from the tobacco and oil industries. These industries have forced researchers
Free Science Scientific method Research
Initial idea: Offer affordable sports equipment for children Products: − Used (second-hand) products − Surplus equipment from manufacturers and retailers Current situation (December 2007): − Demand has been growing steadily over the last years − The products are distributed to the U.S. customers through a single (and small) warehouse in St. Louis − The warehouse is leased on a year-to-year basis − The current network design‚ in particular the distribution network and warehouse
Premium Variable cost Costs Fixed cost
time to failure is as long as 1 year but they are very expensive. Each part can cost at least $100‚000. Hence the parts are very costly to hold as inventory. The firm is looking for a supply chain solution that can meet its needs. (a) What is the competitive strategy if you want to service this firm? (b) What supply chain infrastructure and flows do you think would be appropriate to service this customer? You will need to justify your recommendation. (You can surf the internet to get some ideas
Premium Inventory Gas turbine Management
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
Premium Gross domestic product Economics
of fish means there is a low supply of fish and therefore the demand increases which accounts for the increase in price. The additional information that is needed to construct a measure is why the meat price decreased. One possible reason is there could have been an influx of meat that forced the price to be lowered because there was simply too much meat at the end of the year the price decreased in order to get rid of the surplus‚ the demand went down and the supply went up. 1. Define
Premium Supply and demand Inflation
Education‚ Business and Society: Contemporary Middle Eastern Issues Emerald Article: Entrepreneurial success‚ using online social networking: evaluation Joel Indrupati‚ Tara Henari Article information: To cite this document: Joel Indrupati‚ Tara Henari‚ (2012)‚"Entrepreneurial success‚ using online social networking: evaluation"‚ Education‚ Business and Society: Contemporary Middle Eastern Issues‚ Vol. 5 Iss: 1 pp. 47 - 62 Permanent link to this document: http://dx.doi.org/10.1108/17537981211225853
Premium Facebook Social network service Social media