ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN: 9780190931919
Author: NEWNAN
Publisher: Oxford University Press
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- I need the answer as soon as possiblearrow_forwardCOVID-19 Lockdown Price FreezeYou have been appointed as the Marketing Manager of Makro, Massmart CEO Mitchell Slape hasassigned you tasks and requires you to write a report that will be presented at the next Massmart Boardmeeting. You are encouraged to conduct further research on the company.Background issues1Massmart . is a South African firm that owns local brands such as Game, Makro, Builder's Warehouse,Cambridge Food and Cash & Carry stores.2Massmart announces a price freeze in all their brands for the duration of the 21-day nationwidelockdown. This will involve. suspending price adjustments that were scheduled, as part of the normalcourse of business, before the lockdown was announced. Fresh produce, which is procured daily fromfresh produce markets around the country, is the only category that is not included in this announcement.3Commenting on the decision, Massmart CEO Mitchell Slape said: “This is an unprecedented time forSouth Africa and the. world. As we all come to…arrow_forwardConsider the following data on a firm: Number of Units Sold Total Revenue (£'s) 10 20 30 40 50 60 70 100 180 240 280 300 300 280 Fixed Costs are £100, Variable costs are constant at £3 per (i) Write a table showing the price and quantity sold. (ii) Calculate the profit maximising output of the firm (iii) What are the profits at the profit maximising output? (v) unit produced. (iv) What is the average variable cost at the profit maximising output? What is the arc price elasticity of demand between 40 and 50 units?arrow_forward
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