Ask Question, Ask an Expert

+61-413 786 465

info@mywordsolution.com

Ask Business Economics Expert

A friend is getting married and she comments that everything about the wedding industry from buying a wedding dress to picking out flowers to arranging a wedding reception, all of the costs are unclear at the outset and can end up surprisingly expensive. Naturally, this appears beneficial to firms in the industry. Putting yourself in the shoes of an economist, why is this the case? What information asymmetries, price discrimination opportunities or other market characteristics explain this situation? (e.g. Why haven't natural market forces, the power of internet or other factors impacted this industry much? What is special about this industry?)

Business Economics, Economics

  • Category:- Business Economics
  • Reference No.:- M92861484
  • Price:- $10

Priced at Now at $10, Verified Solution

Have any Question?


Related Questions in Business Economics

In your opinion if the government imposes unit sales tax ie

In your opinion, if the government imposes unit sales tax (i.e. $ tax per unit sold) on a product, will the market equilibrium change? Which one, demand or supply will shift? Increase or decrease? Will new tax cause "dis ...

Couriers such as ups and fedex complete on service and

Couriers such as UPS and FedEx complete on service and price. One way to reduce cost is to keep labor cost low by hiring and laying off workers to meet the demand. This strategy requires managers to hire and train new wo ...

Please explain what is ssd and does the device driver

Please explain what is SSD? and Does the device driver interface to a disk change dramatically if the disk is a SSD (solid state disk)? Explain why?

What is the formula used to calculate marginal product of

What is the formula used to calculate marginal product of food and manufactures.

Why would a policy of re-importation of prescription drugs

Why would a policy of re-importation of prescription drugs be ineffective?

Some people eg hayek argue that decentralization of

Some people (e.g Hayek) argue that decentralization of economic decisions in the economy lead to an efficient resource allocation. What differences exist within the firm that make the link between decentralization and ef ...

New varieties of corn with altered amino acid content are

New varieties of corn with altered amino acid content are being investigated for higher nutritional content. The two new varieties, opaque-2 and floury-2, were to be compared to the normal corn. Also different levels of ...

A researcher conducts a well-designed study to compare a

A researcher conducts a well-designed study to compare a sample mean to a known population mean and uses alpha=.05, two-tailed. She finds a z-test of 1.98, p-value=.048. What should she conclude? a. The 95% confidence in ...

State the total degrees of freedom for the

State the total degrees of freedom for the following  t -tests. (If you need to use ∞, enter INFINITY.) (a)  n  = 17 for a one-independent sample  t -test (b)  df 1  = 12,  n 2  = 18 for a two-independent sample  t -test ...

Discuss how organizations can use their private power for

Discuss how organizations can use their "private power for public good"?

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Why might a bank avoid the use of interest rate swaps even

Why might a bank avoid the use of interest rate swaps, even when the institution is exposed to significant interest rate

Describe the difference between zero coupon bonds and

Describe the difference between zero coupon bonds and coupon bonds. Under what conditions will a coupon bond sell at a p

Compute the present value of an annuity of 880 per year

Compute the present value of an annuity of $ 880 per year for 16 years, given a discount rate of 6 percent per annum. As

Compute the present value of an 1150 payment made in ten

Compute the present value of an $1,150 payment made in ten years when the discount rate is 12 percent. (Do not round int

Compute the present value of an annuity of 699 per year

Compute the present value of an annuity of $ 699 per year for 19 years, given a discount rate of 6 percent per annum. As