Last year, a mother In a small African nation could buy a pound of flour for the U.S equivalent of $1.30. Six months ago, an identical pound of flour costs $3.40. Today she would need $5.60 to buy that pound of flour. This example of the general upward movement of prices is called: a. Deflation b. Inflation c. Supply-side pricing d. Discretionary pricing e. Profit maximization pricing
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- A rice farmer in Japan analyzed the sales data. The data showed that when the product price (per unit) shifted from 1500 yen to 1000 yen, the quantity increased from 350 units to 400 units. From the price elasticity of demand perspective, the farmer should set (Q6) the unit price. (Assume that other things such as macroeconomic or time-trend factors are equal and do not impact on the demand and thus the farmer's pricing.) Q6 1. Higher 2. O LowerYou sell wristwatches. Your marginal cost and average cost for watches is $30. The demand curve for your watches among adults over age 50 is Q = 91,453-100P. The demand curve for your watches among adults under age 50 is Q- 31,437-100P. Round to two decimal places for all calculations below. a. Calculate the profit maximizing price and quantity for each group. What is the price elasticity of demand for adults over 50? Under 50? Explain which is your low-valuation group, and whether these results make sense. b. Contrast the profit earned in part (a) with the profit you would have earned if you had not been able to price discriminate. Was the price discrimination plan worthwhile? Explain. c. What is the optimal markup price for watches in both segments? Explain the calculation for optimal markup, and what it means.7. Assume the below table includes all transactions in a country that produces potatoes and imports Ketchup. The country's GDP is Item Price Quantity Potatoes (domestic consumption) 1 500 Potatoes (export) 1 500 Ketchup (imported; domestic 2 100 consumption) A. 700 В. 800 С. 1,000 D. 1,200 8. In a country where apples are produced and exported but not consumed, a change in the price of apples will affect A. the CPI but not the GDP deflator. B. the GDP deflator but not the CPI. C. both the CPI and the GDP deflator. D. neither the CPI nor the GDP deflator. 9. Structural unemployment occurs because A. it takes time for workers to search for the jobs that best suit their tastes and skills. B. minimum wage laws force the wages to remain above their equilibrium levels. C. some people are economically inactive. D. the number of jobs available in some labour markets is insufficient to provide a job for everyone who wants one.
- Supply and demand curves for a consumer item are give by q = (s(p)=500 + p and q = D(p)=2300-2p respectively p is the price in dollars for one unit of this item and q is the umber of units. The equilibrium price is ' =$600 A sales tax of 3.2% to be directed at the consumers, is under consideration. Determine the amout of money per item that supplies stand to lose due to this tax which is directed at consumers.Brownsville, Texas, boasts being the southernmost international seaport and the largest city in the lower Rio Grande Valley. Ben Supple, an importer in Brownsville, has just received a shipment of Peruvian opals that he is pricing for sale. He paid $140 for the shipment. Assume he wants a 84% markup. a. Calculate the selling price when the markup is based on selling price. Note: Round your answer to the nearest cent. Selling price when the markup is based on selling price b. Calculate the selling price when the markup is based on cost. Note: Round your answer to the nearest cent. Selling price when the markup is based on cost.Suppose that Lou sells 9,000 wheels each month to outside customers. If the transfer pricing formula is used to find the transfer price, what is the appropriate price per wheel? A. P29.50 B. P31.75 C. P39.25 D. P42.00
- Question 1 You have the sole distributor for Lafuma products in Australia (you even got an agreement to prove it). Lately, you noticed that someone is importing the same products in huge quantities from Hong Kong (where it is 40% cheaper) and selling them in Paddy’s, Parklea Market, and other outlets (which are not your retailers) at a substantial discount. Assess the problems that this parallel import has on you. How would this parallel export problem affect Lafuma of France in terms of overall worldwide sales?May I ask for a solution and explanation to the problem for a better understanding. Thank you! If the sales this year amounted to P276,000, sales this year at last year’s price is P230,000, the cost of sales this year is P190,000, and the cost of sales this year at last year’s price is P180,000. How much is the gross profit variation due to sales quantity factor? a. P0 b. P40,000 U c. P40,000 F d. P240,000 F e. can't be determinedRefer to the table below. (1) Person Chander Chaaya Chuck Chazen Chuma Chad (2) Minimun Acceptable Price (= MC) $ 2 4 6 8 10 12 (3) Actual Price (Equilibrium Price) $ 6 6 6 6 6 6 If the six people listed in the table are the only producers in the market, and the equilibrium price is $6, how much producer surplus will the market generate? Instructions: Enter your answer as a whole number. Total producer surplus = $
- Which of the following statements is correct? When cost of goods sold as a percentage of sales increases, the gross profit margin will increase. If the gross profit margin increases from one year to the next, then the net profit margin will also increase from one year to the next. If the gross profit margin is the same for the current and past year, then sales and cost of goods sold in dollars did not change. It is possible that when cost of goods sold in dollars increases, cost of goods sold as a percentage of sales decreases.Suppose that the profit (in dollars) from the sale of Kisses and Kreams is given by P(x, y) = 10x + 6.9y-0.001x²-0.045y² where x is the number of pounds of Kisses and y is the number of pounds of Kreams. Find P/ay, and give the approximate rate of change of profit with respect to the number of pounds of Kreams that are sold if 100 pounds of Kisses and 14 pounds of Kreams are currently being sold. (Give an exact answer. Do not round.) What does this mean? If the number of pounds of Kisses is held constant and the number of pounds of Kreams is increased from 14 to 15, the profit will increase by approximately $ Need Help? Read It Watch itAt a supermarket, the price of yellow onions dropped from $0.56 per pound to S0.44 per pound. (2) What is the percent decrease in the price of onions? (Round your answer to one decimal place.) コx (b) Tomatoes are expected to undergo the same percent decrease in price. If they currently sell for $1.03 per pound, what will be the new price (in $ per Ib) of tomatoes? (Round your answer to two decimal places.) ******** X per lb Enter a nurmber.