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 112 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?

No drugs are available to relieve parathyroid disease. Parathyroid disease is caused by a parathyroid tumor, and it needs to be removed by surgery.

Did you know?

Autoimmune diseases occur when the immune system destroys its own healthy tissues. When this occurs, white blood cells cannot distinguish between pathogens and normal cells.

Did you know?

Vampire bats have a natural anticoagulant in their saliva that permits continuous bleeding after they painlessly open a wound with their incisors. This capillary blood does not cause any significant blood loss to their victims.

Did you know?

Despite claims by manufacturers, the supplement known as Ginkgo biloba was shown in a study of more than 3,000 participants to be ineffective in reducing development of dementia and Alzheimer’s disease in older people.

Did you know?

In 1864, the first barbiturate (barbituric acid) was synthesized.

Homunculus maps of human body parts along the cerebral cortex. Homunculus maps of human body parts along the cerebral cortex.
The Passenger Pigeon—a Recent Extinction Example The Passenger Pigeon—a Recent Extinction Example
Maxine Williams was the founder and first president of the AAMA. Printed with permission of American Maxine Williams was the founder and first president of the AAMA. Printed with permission of American
An example of a medical history sheet to list patient problems. An example of a medical history sheet to list patient problems.
A medical assistant holds a specimen container to receive a biopsy sample. A medical assistant holds a specimen container to receive a biopsy sample.
Benefits and costs of herbicide applications Benefits and costs of herbicide applications
Video: Types of Shock (Part 2 of 2)

For a complete list of videos, visit our video library