This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: A recent medical study reports new benefits of cycling. Simultaneously, the price of the parts ... (Read 132 times)

crobinson2013

  • Hero Member
  • *****
  • Posts: 535
on: Jul 1, 2018
A recent medical study reports new benefits of cycling. Simultaneously, the price of the parts needed to make bikes falls. If the change in supply is greater than the change in demand, the price will _________ and the quantity will _________.
 a. Rise, rise
  b. Rise, fall
  c. Fall, rise
 d. Fall, fall

Question 2

Half of all your potential customers would pay 10 for your product but the other half would only pay 8 . You cannot tell them apart. Your marginal costs are 4 . If you set the price at 8, the expected profit is:
 a. 3
  b. 4
  c. 5
  d. 6


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

kristenb95

  • Sr. Member
  • ****
  • Posts: 318
Reply #1 on: Jul 1, 2018
Answer to Question 1

c

Answer to Question 2

b


crobinson2013

  • Hero Member
  • *****
  • Posts: 535
Reply #2 on: Jul 1, 2018
Correct answers!


kristenb95

  • Sr. Member
  • ****
  • Posts: 318
Reply #3 on: Jul 1, 2018
Great! Please up vote :D


« previous next »
 

Did you know?

When blood is exposed to air, it clots. Heparin allows the blood to come in direct contact with air without clotting.

Did you know?

As many as 28% of hospitalized patients requiring mechanical ventilators to help them breathe (for more than 48 hours) will develop ventilator-associated pneumonia. Current therapy involves intravenous antibiotics, but new antibiotics that can be inhaled (and more directly treat the infection) are being developed.

Did you know?

The human body's pharmacokinetics are quite varied. Our hair holds onto drugs longer than our urine, blood, or saliva. For example, alcohol can be detected in the hair for up to 90 days after it was consumed. The same is true for marijuana, cocaine, ecstasy, heroin, methamphetamine, and nicotine.

Did you know?

Computer programs are available that crosscheck a new drug's possible trade name with all other trade names currently available. These programs detect dangerous similarities between names and alert the manufacturer of the drug.

Did you know?

Though “Krazy Glue” or “Super Glue” has the ability to seal small wounds, it is not recommended for this purpose since it contains many substances that should not enter the body through the skin, and may be harmful.

A subculture of employees who work at a medical practice A subculture of employees who work at a medical practice
Modern primate study sometimes involves high-tech methods. This golden lion tamarin is having a batt Modern primate study sometimes involves high-tech methods. This golden lion tamarin is having a batt
ESM Study of Time Spent with Family ESM Study of Time Spent with Family
Parts of a syringe. Parts of a syringe.
Reacting to Medical Treatments Reacting to Medical Treatments
Carbon-11 is used in medical imaging. The half-life of this radioisotope is 20.4 min. What ... Carbon-11 is used in medical imaging. The half-life of this radioisotope is 20.4 min. What ...
Video: Sigmoidoscopy

For a complete list of videos, visit our video library