In the fictional town of Wilsonville, there's a bustling local economy with numerous firms and households. The local bakery, owned by Mrs. Smith, is a favorite among the townspeople for its delicious pies. Mrs. Smith buys her fresh apples from the local orchard, which is owned by Mr. Johnson. Meanwhile, Mr. Johnson and his family are regular customers at Mrs. Smith's bakery, indulging in her pies every weekend. Use the diagram below to answer the question. Factor market G Households Good market What do arrows a and b represents? a) b) a-income; b-goods and services a-spending; b-factors of production c) a-spending; b-goods and services d) a-income; b-factors of production

Macmillan Learning You notice that the prices of coffee at your local supermarket vary from week to week, causing you to buy different brands, depending on which is cheaper that week. Your friend William, by contrast, is a hardcore Peet's fan and buys only Peet's, whether the price is $5.99 per pound or $12.99 per pound. By varying coffee prices, the supermarket sells both to you, who is relatively price particular about coffee, and to William, who is relatively price and and particular about coffee. O sensitive; less; insensitive; more insensitive; more; sensitive; less sensitive; more; insensitive; less insensitive; less; sensitive; more Incorrect

Scenario Between recalls on mass-produced commercial dog food and a general understanding of the benefits of a healthier diet for pets, the demand for natural or organic dog food is experiencing a significant increase. Wanda's treats are more expensive than the mass-produced treats found in most grocery and big box stores, but she prides herself on providing high-quality products and believes that her customers are willing to pay the extra money for quality. 1. How does Wanda's strategy of being a high-quality provider take advantage of the shifts in consumer demand for healthy dog treats? 2. Identify and describe an event that might occur in the economy that would cause Wanda's strategy to no longer be successful for Salty Pawz. If this event occurred, What actions would Wanda have to take in response, and what impact might they have on her business?

Table 18-14 Suppose that two oil companies-BP and Exxon-own adjacent natural gas fields. The profits that each firm earus depends on both the member of wells it drills and the number of wells drilled by the other firm. The table below lists each firm's individual profits: Exxon Drill one well Drill two wells BP Drill one well BP Drill two wells Exxon's profit $10 million BP's profit $10 million Exxon's profit $6 million BP's profit $12 million Exxon's profit $12 million BP's profit $6 million Exxon's profit $8 million. BP's profit $8 million Refer to Table 18-14. Does BP have a dominant strategy? If so, describe it. For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac) BIUS Paragraph Arial 5 田田田园 10pt 89. M XX, 833 >>() ⒸO HE [+ V A AV ✓ Z X T 94 ΩΘΙ *** 68.88

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At a time when demand for ready-to-eat cereal was stagnant, a spokesperson for the cereal maker Kellogg's was quoted as saying, for the past several years, our individual company growth has come out of the other fellow's hide." Kellogg's has been producing cereal since 1906 and continues to implement strategies that make it a leader in the cereal industry. Suppose that when Kellogg's and its largest rival advertise, each company earns $1 billion in profits. When neither company advertises, each company earns profits of $9 billion. If one company advertises and the other does not, the company that advertises earns $49 billion and the company that does not advertise loses $4 billion. For what range of interest rates could these firms use trigger strategies to support the collusive level of advertising? Instruction: Enter your response as a percentage rounded to the nearest whole number. percent

Video streaming service Netflix is expanding rapidly around the globe. It is currently available in 50 countries with the goal of expanding to 200 countries by the end of 2016. Netflix’s international slogan is “Have content, will travel.” There are challenges to international expansion for this type of service, such as inadequate disposable household income and a low percentage of households with high-speed Internet needed to stream videos. And even though almost half of France’s TV-owning households have Internet-connected TVs, cultural restrictions limit English-language program content, requiring Netflix to invest in local content for French customers. The next countries to get Netflix are Italy, Spain, and Portugal. Similar to Netflix’s other European offerings, service will be offered at a price of €7.99 per month, which converts to U.S. $8.97 during the time of expansion. Calculate the market sales potential using the current exchange rate between euros and U.S. dollars (see…

Suppose that there were two competing types of high-definition DVD players, Greenbeam and Mosdef. Greenbeam enjoyed an initial advantage in the market for high-definition DVD players because there were more motion-picture production companies offering movies compatible with its system. Which of the following is an illustration of a network externality? Mosdef benefited from more consumers buying Greenbeam DVD players. O Consumers bought Mosdef players in increasing numbers, while Greenbeam lost market share and eventually went out of business. Consumers bought Greenbeam players in increasing numbers, while Mosdef lost market share and eventually went out of business. More production companies adopted the Mosdef format for their movies because the Mosdef player had the superior format, despite the fact that more consumers purchased Greenbeam players.

Suppose you manage a large company’s marketing department and are responsible for deciding whether or not to advertise in the Super Bowl. Your team of analysts estimate that for each advertisement, your firm would generate $6 million in additional revenue for the company. It cost $7 million to run a 30-second advertisement. Therefore, your company would expect to lose $1 million in profit for each advertisement. Explain why it could still be worthwhile to purchase an advertisement, even though you know in advancethat your company would lose $1.5 million in profit

At a time when demand for ready-to-eat cereal was stagnant, a spokesperson for the cereal maker Kellogg’s was quoted as saying, “ . . . for the past several years, our individual company growth has come out of the other fellow’s hide.” Kellogg’s has been producing cereal since 1906 and continues to implement strategies that make it a leader in the cereal industry. Suppose that when Kellogg’s and its largest rival advertise, each company earns $0 billion in profits. When neither company advertises, each company earns profits of $8 billion.If one company advertises and the other does not, the company that advertises earns $43 billion and the company that does not advertise loses $4 billion. For what range of interest rates could these firms use trigger strategies to support the collusive level of advertising?Instruction: Enter your response as a percentage rounded to the nearest whole number.i ≤  percent