Answered: is there an evidence that having two…

Business

Economics

is there an evidence that having two close outs in a month has beneficial effect on sales ?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

See similar textbooks

Related questions

Q: why do we mean by full cost pricing and why is it important

A: Full cost pricing is a strategy where the price of the product is estimated by the firm based on the…

Q: EXPLAIN RELATIONSHIP BETWEEN THE MARGINAL REVENUE AND THE AVERAGE REVENUE.

A: According to the given question Marginal revenue in simple words we can say that is the introduction…

Q: how do you draw a firm's supply cure, using marginal curve, average cost, and marginal revenue…

A: A supply curve is a graphical representation in economics that shows the relationship between the…

Q: Should the firm shut down in the short-run? Explain in detail why or why not.

A: The decision to shut down a firm in the short run depends on the comparison between the price and…

Q: ATC MC AVC P3 f P2 P1 10 11 12 Quantity (per day) 5 8 The figure above shows a firm in a perfectly…

A: The firm's goal is to maximize profits by minimizing losses. A competitive firm may incur losses in…

Q: Describe a fixed and variable cost in the restaurant industry and explain how the costs might affect…

A: Fixed cost is that part of the cost incurred in the short run that does not depend on the amount of…

Q: A bookstore sells 90 textbooks at a price of $70 a book. The average total cost is $50 per textbook.…

A: Given that : Number of textbooks = 90 Price of a book = $ 70 Average total cost = $ 50

Q: When would a seller possibly decide to exit the industry over the long run? What should product…

Q: Why can't firms enter the market in the short-run?

A: There are various types of market structures which have different characteristics of the number of…

Q: explain your answers in detail and use graphs whenever appropriate: The market for rental cars is…

A: Since you have posted a question with multiple sub-parts, we will solve the first three sub-parts…

Q: Suppose you are a seller in a perfectly competitive market, and you are not happy with the existing…

A: Perfect competition refers to the competition wherein the firms in the market produce and sell…

Q: D) What will happen to the industry in the (new) long run? Please Illustrate your answer and explain…

A: No perfectly competitive firm acting alone can influence the market cost. Notwithstanding, the blend…

Q: A national campaign to fight obesity runs advertisements during Thanksgiving reducing market demand…

A: Profit maximizing quantity is where marginal revenue equals marginal cost. Long run equilibrium for…

Q: MC АТС 20 -MR 16 30 40 Firm What is the amount of profit for the firm in the graph?

A: A Firm will be in equilibrium when its profit is maximized or loss is minimized. For this following…

Q: If you are a manager in a highly competitive business such where should you put your most effort to…

A: Answer: In a highly competitive industry, all the firms sell almost homogeneous goods. The cost of…

Q: What are the options available to a firm when the market demand exceeds capacity?

A: Here's a set of features that assist companies in proactively addressing excess demand and…

Q: What does acceptable loss mean for a competitive firm? Explain and Draw a graph

A: Making business decisions and allocating resources in the face of numerous challenges is part of…

Q: WHY SOME FIRMS MIGHT BE ABLE TO CONTINUE TO MAKE AN ACONOMIC PROFIT IN THE LONG RUN?

A: A monopoly occurs when a single person or corporation serves as the exclusive supply of a certain…

Q: dont use chat answer and correct answwer i will 10 upvotes

A: The objective of the question is to find the optimal price to be charged for a good using the…

Q: If the marginal cost to make a good is $78 and the price elasticity of demand is -6, what price…

A: The markup rule is a rule that firms with some market power use to charge a price higher than the…

Q: Suppose a resturant in a city making above normal profit in the short run. How will the market…

A: A restaurant is operating in a monopolistic competitive market structure.

Q: what are the maximum profits this firm can earn?

A: A competitive market is a typical market that answers the demands for goods and services. A…

Q: How does perfect competition effect the pharmaceutical industry?

A: In a market structure with perfect competition, there are numerous small enterprises that are price…

Q: Consider a firm in a competitive market. The marginal cost curve starts at $37 and hits its minimum…

A: A competitive firm earns zero economic profit when its price is equal to average total cost.

Q: When will a business shut-down in the short-run?

A: Short-run: - it is a short time period in which some factors of production are variable and some are…

Q: Describe a firm’s shutdown decision

A: Costs are the expenses that the firm has to incur in its production activities. In the short run,…

Q: T/F There is a absence of selling cost in a perfectly competitive market.

A: A market structure where there are many small businesses selling the same, homogenous product and no…

Q: If the firms are earning abnormal profit how will the number of firms in industry change?

A: According to the given question In Simple words we can say that the abnormal profits are the profits…

Q: 50 MC ATC 40 30 MR 10 10 20 30 40 Quantity (per day) The figure above shows a perfectly competitive…

A: In the above, the profit-maximizing output for the perfectly competitive market is when MR=MC. This…

Q: Your company operates in a perfectly competitive market.you were asked that your sales can increase…

A: Definition: In a perfectly competitive market, all the firms are identical producing homogeneous…

Q: Total Revenue Ст Maximum Profit Los Profit Cv Cr D'2 D Volume (Demand) Cost and Revenue

Q: Why don't firms in a competitive market have excess capacity in the long run?

A: When a company produces at a lower production scale than planned, it is said to have excess…

Q: Now assume the egg industry is in long run equilibrium. Diagram long run equilibrium. Health…

A: The link between the amount of a product provided and its price, while maintaining other variables…

Q: any companies start with cost to determine price since revenue must cover cost for the firm to make…

A: Cost-based pricing is a pricing strategy where a business determines the selling price of a product…

Question

100%

answer in short

is there an evidence that having two close outs in a month has beneficial effect on sales ?

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

This is a popular solution!

SEE SOLUTION Check out a sample Q&A here

Step 1

VIEW

Step 2

VIEW

Step 3

VIEW

Trending now

This is a popular solution!

Step by step

Solved in 3 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.

Similar questions

Define the excess capacity and calculate it from a graph. Define a mark-up and calculate it from a graph.
If pepsi bought out coca-cola and cokes family's to form one large mega company what would happen to the price of sodas in the united states
ONLY QUESTION C PLEASE
3E02
When would a profit-maximizing firm shut down in the short run?
Give typing answer with explanation and conclusion Give an example of a business that ceased production. Was the company's decision to stop production a shutdown or a decision to exit the market? How do you know?
Discuss where does the shutdown being and why? What does the company has to do to get back to supernormal profit?
Please do fast..ASAP fast
Why do firms, in the long run, continue to stay in the industry if they are earning 0 profits?
What happens when more and more firms enter an industry? a) Decline in economic profits b) An increase in the accounting profits c) An increase in price d) A decline in production Answer A В D
The figure below depicts the market supply and demand for the perfectly competitive rollerblade industry. S Price per pair of Rollerblades 1,140 070 50 150 Number of pairs of Rollerblades per week Based on the figure above, if the current quantity demanded of rollerblades is 150 per week, you accurately predict that in the short run, Q Select one: a. price and quantity supplied will increase and quantity demanded will decrease. b. price and quantity supplied will decrease and quantity demanded will increase. c. price, quantity supplied and quantity demanded will increase. d. price, quantity supplied and quantity demanded will decrease.
What is the profit maximizing quantity of output? What price should the firm charge for its output? For that price and quantity does the firm make economic profit, economic loss or breaks even? How do you know? Explain your answer.