What effect, if any, does each of the following events have on the price elasticity of demand for corporate-owned jets?
a) A decline in corporate earnings causes firms to cut their travel budgets, which in turn causes expenditures on corporate jet travel to become a larger fraction of total spending on corporate travel.
b) A new, much more fuel-efficient corporate jet is introduced.
c) Further deregulation of the commercial airlines industry substantially increases the variety of departure times and destinations offered by commercial airlines.
d) The cost of manufacturing corporate jets rises.
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2.
Assume that the demand for cosmetic or plastic surgery is price inelastic. Are the following statements true or false? Explain.
a) When the price of plastic surgery increases, the number of operations decreases.
b) The percentage change in the price of plastic surgery is less than the percentage change in quantity demanded.
c) The marginal revenue of another operation is negative.
d) Changes in the price of plastic surgery do not affect the number of operations.
e) Quantity demanded is not very responsive to changes in price.
f) If more plastic surgery is performed, expenditures on plastic surgery will decrease.
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3.
Fill in the blanks:
a. The price elasticity of demand for a firm’s product is equal to –1.75 over the range of prices being considered by the firm’s manager. If the manager increases the price of the product by 9 percent, the manager predicts the quantity demanded will ________ (increase, decrease) by ________ percent.
b. The price elasticity of demand for an industry’s demand curve is equal to –1.75 for the range of prices over which supply decreases. If total industry output is expected to decrease by 14 percent as a result of the supply decrease, managers in this industry should expect the market price of the good to ________ (increase, decrease) by ________percent.
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4.
Use the linear demand curve shown below to answer the following questions.
a. The point elasticity of demand at a price of $500 is _________.
b. The point elasticity of demand at a price of $175 is _________.
c. Demand is unitary elastic at a price of $_________.
d. As price falls, |E| __________________ (gets larger, gets smaller, stays the same) for a linear demand curve.
IFSM300 Week1 Need 3 discussion replies done.
1.)H. Tardieu and B. Guthmann define the strategic information system as being “a completely conventional information system which will allow to memorize, process, communicate “fatal” information on an activity considered by the company as strategic, in the sense that this activity will, within the framework of the chosen strategy, to provide a sustainable competitive advantage” (Rtal
Project Planning-Boeing 737 Max Discussion
Business Assignment Help Please review the videos and the slides on the 737 Max program for Boeing. Answer the following questions in 2-3 sentences each. This is individual work.
1. What was the motivation behind the 737 Max program for Boeing? What were some innovative elements in the product and the program?
2. What were the reasons for the two crashes and from a program/project management perspective, what were some of the decisions and risks Boeing took with the program that may have resulted in the disasters?
3. What are some lessons you take away broadly on program and project management from this case?
You are welcome to comment on a peer’s post, but it is not mandatory.
Video 1- https://www.youtube.com/watch?v=0jTN0JD4I5M
Video 2- https://www.youtube.com/watch?v=EESYomdoeCs
Negotiation
A Final Group Case Study which consists of preparing a cross-cultural negotiation by critically reflecting on the theories, concepts, models and tactics learned throughout the course as well as make personal research. In groups of 4 students, prepare the negotiation as per the case and the questions down below. READ THE CASE AND ANSWER ONLY QUESTIONS NUMBER 3 and 4 (250 words each question)