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 125 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?

Since 1988, the CDC has reported a 99% reduction in bacterial meningitis caused by Haemophilus influenzae, due to the introduction of the vaccine against it.

Did you know?

Cutaneous mucormycosis is a rare fungal infection that has been fatal in at least 29% of cases, and in as many as 83% of cases, depending on the patient's health prior to infection. It has occurred often after natural disasters such as tornados, and early treatment is essential.

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?

Many people have small pouches in their colons that bulge outward through weak spots. Each pouch is called a diverticulum. About 10% of Americans older than age 40 years have diverticulosis, which, when the pouches become infected or inflamed, is called diverticulitis. The main cause of diverticular disease is a low-fiber diet.

Did you know?

The heart is located in the center of the chest, with part of it tipped slightly so that it taps against the left side of the chest.

Medical Slippers Medical Slippers
Becoming a Certified Medical Assistant may demonstrate your commitment to the profession and the con Becoming a Certified Medical Assistant may demonstrate your commitment to the profession and the con
Study of Taste Categories among the Weyéwa of Sumba, Indonesia Study of Taste Categories among the Weyéwa of Sumba, Indonesia
How to integrate by parts when How to integrate by parts when "going in circles"
Martorano's cross-sectional study Martorano's cross-sectional study
Parts of a Plant Parts of a Plant
Video: The Nerve Impulse

For a complete list of videos, visit our video library