Ask Question, Ask an Expert

+1-415-315-9853

info@mywordsolution.com

Ask Business Economics Expert

Determine the pricing strategy to increase revenues based on price elasticity of demand

 

1)      In each of the cases listed below determine illustrate what this consumer needs to do (in terms of purchasing X and Y) to maximizes their utility.

Price is in dollars per unit. Marginal utility is measured in 'utils.'

Case

Price of X

Marginal Utility of X

Price of Y

Marginal Utility of Y

A

10

2

5

3

B

12

4

4

2

C

3

1

6

2

D

4

2

4

2

E

8

4

4

3

 2) As Vice-President Marketing and Sales of a business venture, you have been asked to deliver a pricing strategy to increase revenues for all product lines. Discuss how you would use information on the elasticity of demand for each of the products in developing the strategy.

 

Business Economics, Economics

  • Category:- Business Economics
  • Reference No.:- M917465

Have any Question? 


Related Questions in Business Economics

If the demand for movie tickets is elastic then a ed gt 1 b

If the demand for movie tickets is elastic, then A. Ed > 1. B. Ed

Streets in bellevue are maintained by public works division

Streets in Bellevue are maintained by Public Works Division; "Street Maintenance". Public Works administrators are planning the workforce of this division for next year. Labor hour requirements for the next year are 8,00 ...

Please answer with over 300 wordsthere are many sources of

PLEASE ANSWER WITH OVER 300 WORDS. There are many sources of international law, including international conventions, international customs, general principles of law, and the judicial decisions and teachings of publicist ...

During the year belyk paving co had sales of 2381000 cost

During the year, Belyk Paving Co. had sales of $2,381,000. Cost of goods sold, administrative and selling expenses, and depreciation expense were $1,444,000, $436,900, and $491,900, respectively. In addition, the company ...

Assignmentselect one of the following entities google yahoo

Assignment Select one of the following entities; Google, Yahoo, DropBox or Amazon. Briefly, describe the entity's underlying business model. Construct a valuation model to determine the entity's intrinsic value. Explanat ...

A firm in a purely competitive industry has a typical cost

A firm in a purely competitive industry has a typical cost structure. The normal rate of profit in the economy is 6 percent. This firm is earning $5.50 on every $50 invested by its founders. Instructions: Enter your answ ...

Suppose you are studying the recent rise in shale energy

Suppose you are studying the recent rise in shale energy. You know the inverse demand function for shale energy is P = 100 - Qd. The supply of shale energy is P = Qs. Find the equilibrium price, the equilibrium quantity, ...

1 find the amount and interest of 101860 compound 12 14

1. Find the amount and interest of $ 101.860 compound 12 1/4% for 20 years calculated: and. annually F. semiannually g. quarterly basis h. monthly 2. How much money do you need to deposit into your investment account to ...

Janice really likes potatoes at best any other goods are

Janice really likes potatoes. At best any other goods are worth less than a dollar to her, potatoes cost $0.50 per pound, and she has $5.00 that she could possibly spend ob potatoes or other items. Suppose she feels that ...

Klingon widgets inc purchased new cloaking machinery three

Klingon Widgets, Inc., purchased new cloaking machinery three years ago for $8 million. The machinery can be sold to the Romulans today for $6.7 million. Klingon’s current balance sheet shows net fixed assets of $3.1 mil ...

  • 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

A cola-dispensing machine is set to dispense 9 ounces of

A cola-dispensing machine is set to dispense 9 ounces of cola per cup, with a standard deviation of 1.0 ounce. The manuf

What is marketingbullwhat is marketing think back to your

What is Marketing? • "What is marketing"? Think back to your impressions before you started this class versus how you

Question -your client david smith runs a small it

QUESTION - Your client, David Smith runs a small IT consulting business specialising in computer software and techno

Inspection of a random sample of 22 aircraft showed that 15

Inspection of a random sample of 22 aircraft showed that 15 needed repairs to fix a wiring problem that might compromise

Effective hrmquestionhow can an effective hrm system help

Effective HRM Question How can an effective HRM system help facilitate the achievement of an organization's strate