1. Coffee bun market Research and certified by economists and scholars, market structure has 4 types of market. It comprises of perfect, monopolistic, oligopoly and monopoly. Each market has its own characteristics and features which the businessman are required to master so that they are able to apply the business strategy sophisticatedly. First of all, it is perfect competition. In this market type, there are a lot of small firms and customers. Thus, both sides do not have any effect on price
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Educational Institution has to undertake certain projects which will meet the need to achieve the objective of increasing the number of students in the next 3 years. The strategies should be aligned with the project objectives before making a decision on which projects should be selected The selection process will begin with understanding the cost, strategies, objective, value & risks. In order to prioritize the project, we have to follow a structured process and consolidate a plan. We need
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BENEDICTINE COLLEGE Managerial Economics Instructor: Shu Yan Fei Assignment One Student Name: Peng TangBin October 9, 2009 The demand curve for product X is given as Q = 2000 – 20P. a. How many units will be sold at $ 10 ? b. At what price would 2,000 units be sold ? 0 units ? 1,500? c. Write equations for total revenue and marginal revenue (in term of Q). d. What will be the total revenue at a price of $70? What will be the marginal revenue ? e. What is the point elasticity
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This report provides factual quantative information on Lemonade Stand, sourced from financial statements, the business’ General Journal and financial data collected during Seasons One, Two and Three. The following economic summary report will consider how well Lemonade Stand’s business is performing by, among other things, deducting the stand’s capital costs from its profits. Through analysis of the previously stated quantiative information, the company will be able to measure how well the stand
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ECONOMIES and DISECONOMIES OF SCALE Economies and diseconomies of scale explain what happens to a firm’s costs as it expands, in the LONG RUN. The long run is the time period in which it is possible for a firm to vary the amounts of all the factors of production employed: more land can be acquired, more buildings erected and more machinery installed. In the long tun, it is possible for a firm o change the scale of it’s activities. Strictly speaking, a change of scale takes place when the quantities
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Submission Question 13 Assume that a market was served by an industry which was perfectly competitive when one of the firms was able to gain exclusive control of an essential input so that all of the other businesses closed down leaving the owner of the raw material as the sole supplier in the industry. Assume that there is no change in the demand for the product and that all the costs of production remain the same. a. Use the demand and supply model to show if there is likely to be any
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Unit 4 Assignment 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 is horizontal for a perfectly competitive firm and is driven by its price. When the price goes up, demand goes down. The market demand curve is the total quantity that individuals are willing to buy
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STUDY Guide Quiz #2 This test consists of 24 multiple choice questions. You will have two hours to complete the quiz. What is a trade deficit? (imports versus exports) exports are less than imports Trade deficits are situations in which the imports of goods and services exceed the products exported by a specific country. While is it not unusual for nations with a very stable economy to experience a small amount of trade deficit from time to time, prolonged periods with a significant imbalance
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Customer loyalty has become a central goal of modern business. With each additional year of a relationship, customers become less costly to serve. Over time, as the loyalty life cycle plays out, loyal customers even become business builders: buying more, paying premium prices, and bringing in new customers through referrals (O’Brien & Jones, 1996). A rewards program can accelerate the loyalty cycle, encouraging first or second year customers to behave more like a company’s most profitable tenth-year
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Apple Inc University of Redlands Abstract Apple Inc (previously known as Apple Computers Inc) is a market leader and an iconic American company. They provide an interesting example of micro-economics as they operate in a competitive industry – high tech consumer electronics, but they have differentiated themselves so well, they operate almost like a monopoly. This paper will explore the uniqueness of Apple that makes them an economical oddity. Company Overview Apple Inc. (originally Apple
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