The method of allocation that most stores use during Thanksgiving sales is A. a combination of contest and command OB. a combination of market price and lottery OC. first-come, first-served D. a combination of market price and first-come, first-served
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- Your niece owns a different type of chicken restaurant. She specializes in chicken and noodles and chicken pot pie. Her pot pie is the better seller. However, when its cold outside, the chicken and noodles is the better seller. She goes through about 100 chickens every two days. It takes about 60 chickens to make 600 pot pies. The other 40 chickens are used to make about 320 chicken and noodle dishes. When its cold outside it takes 70 chickens to meet the demand for chicken and noodles. Construct a production possibilities model that graphically illustrates this problem.Explain the methods used toallocate the integratedmarketing communications(IMC) budget.Hardware, a small family-owned store in Middletown, sells a 100-pack of garnet sandpaper for $35. The Home Shoppe, a large retail hardware chain in neighboring Morristown, sells the same product for $29. Based on this scenario, what would you expect Merv immediate response to be? Merv will remove his advertisements and rely on word of mouth. Merv will reduce his price to respond to the price competition from the HomeShoppe. The HomeShoppe will initiate non-price competition with Merv. The HomeShoppe will raise its price to respond to the price competition from Merv.
- Tyke's Bikes is a bicycle sales and repair shop in a small city. It sells new and used bikes with a narrow profit margin and does repairs at minimal costs. Frequently, if a child comes into the sh with a broken part or a flat tire, Tyke's makes the repair for free if the child has no money. Tyke's also provides a free one-hour repair class for those who want to learn how to fix their bikes. At local organized bike rides, Tyke's provides free services, asking only for voluntary donations. W theory of corporate social responsibility is Tyke's exhibiting? O The narrow view, or invisible hand theory. The moderate view, or government's hand theory. The hybrid view, or citizen's hand theory. The broad view, or good corporate citizenship..Suppose that the restaurant industry in Honolulu is monopolistically competitive and is currently in Stage 2 equilibrium (firms currently make zero profit). The graph below shows the cost curves for a typical restaurant in this industry. (a) Draw a demand curve and an MR that is consistent with this market being in Stage 2 equilibrium. (b) Show the equilibrium price Now suppose an highly-infectious new virus comes to the island, causing demand for restanrant meals to shift in. (c) What would you expect this change in restaurant demand when the number of firms is fixed? Explain. (d) What would you expect the change in demand to do to the number of meals sold, prices and profits of firms in the long run if firms can enter and exit? What happens to the mumber of restaurants?Best Lights wants to prevent Bright Lights from entering the light bulb market, If Best Lights expands its capacity the expansion cal lead to all of the following except which one? decrease Bright Lights tofit from entering the market INTA lower Best Lights profit-maximizing quantity THE SUNBLOMSIA lower Best Lights profit may mizing price lower Best Lights marginale
- Economics What factor determines how many segments to divide your demand in for group pricing? O The similarity of demand across segments. The ability of the company to identify segments with similar reservation price. Whether the product is a tangible good or an intangible service. The amount of consumer information available to the company.Exercise 3.5. Pablo, Dirk and Franz run the only bar in town. Pablo wants to sell as many drinks as possible without losing money. Dirk wants the bar to bring in as much revenue as possible. Franz wants to make the largest possible profits. Using a single diagram of the bar's demand curve and its cost curves, show the price and quantity combinations favoured by each of the three partners. Explain.Supplier Set Price Versus Market-Determined Price: Collusion or Competition?
- In which type of market, monopolistic or competitive market, is the equilibrium market price lower? Why?A marketer focuses on several commornalities among all consumers. This marketer appears to be engaging in a. Differentiated marketing Concentrated marketing c. Mass customization Odi. Undifferentiated marketing e. Segmented marketingAirPorter (AP) Don't offer Offer Don't offer AP earns $8,000 LimoZeenz (LZ) AP earns $10,000 LZ earns $16,000 LZ earns $8,000 AP earns $15,000 AP earns $12,000 Offer LZ earns $12,000 AirPorter offers the discount, but LimoZeenz does not. Both LimoZeenz and AirPorter do not offer the discount. There is no Nash equilibrium. LimoZeenz offers the discount, but AirPorter does not. LZ earns $6,000 LimoZeenz and AirPorter and are the only two airport shuttle. Each firm must decide on whether to offer its customers a mid-week discount for airport transportation. The table above shows the payoff matrix for profits earned by each company based on either offering or not offering the discount. Refer to the table above, what is the Nash equilibrium in this game?