Suppose a car dealership hires dealers to sell their cars. Dealers are allowed to negotiate the sales price of the cars within 5% and 10% markup above the manufacturer's suggested retail price (MSRP). The dealer is given a commission of 1.5% of the MSRP if the car sales. Meanwhile, if the dealer negotiates a price 5% above Supposing a car has MSRP of $33,700, the dealer who sells the car receives the MSRP, then the value of the markup to the dealership is For any given sold car, the dealer's commission highest markup because it would deter the sale (which results in the dealer getting nothing). with an increase in the markup, so the dealer has to charge the

Suppose a car dealership hires dealers to sell their cars. Dealers are allowed to negotiate the sales price of the cars within 5% and 10% markup above the manufacturer's suggested retail price (MSRP). The dealer is given a commission of 1.5% of the MSRP if the car sales. Meanwhile, if the dealer negotiates a price 5% above Supposing a car has MSRP of $33,700, the dealer who sells the car receives the MSRP, then the value of the markup to the dealership is For any given sold car, the dealer's commission highest markup because it would deter the sale (which results in the dealer getting nothing). with an increase in the markup, so the dealer has to charge the

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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3 2. A decision at the margin Jake is a hard-working college sophomore. One Tuesday, he decides to work nonstop until he has answered 110 practice problems for his economics course. He starts work at 8:00 AM and uses a table to keep track of his progress throughout the day. He notices that as he gets tired, it takes him longer to solve each problem. Time Total Problems Answered 8:00 AM 0 9:00 AM 50 10:00 AM 80 11:00 AM 100 Noon 110 Use the table to answer the following questions. The marginal, or additional, gain from Jake’s first hour of work, from 8:00 AM to 9:00 AM, is problems. The marginal gain from Jake’s third hour of work, from 10:00 AM to 11:00 AM, is problems. Later, the teaching assistant for Jake’s economics course gives him some advice. “Based on past experience,” the teaching assistant says, “working on 25 problems raises a student’s exam score by about the same amount as reading the textbook for 1 hour.” For…
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Give typing answer with explanation and conclusion Consider a good or service where consumers pay more than its actual valuation (for eg, products with markup prices at retail significantly higher than their cost: greetings cards, bottled water, stock price, movie theatre popcorn/candy). Based on the irrational decision-making and marginal analysis, explain why such irrational decision-making could take place in this situation.
1. The rules regarding economic decision maker behavior are: Group of answer choices A: Consumers behave rationally and maximize utility, but producers do not behave rationally B: Producers behave rationally and maximize profits, but consumers do not behave rationally C: consumers are ratiional and maximize utility, and producers are rational and maximize profits D: Consumers maximize total consumption, and producers maximize production
Solve all this question......you will not solve all questions then I will give you down?? upvote....
Solve all this question......you will not solve all questions then I will give you down?? upvote.....
The questions are attached in the image. The questions are based on 'General equilibrium' model in 'economics'. (please do not tag it in some other subject) These are simple Multiple choice questions which are undergrad level. Please do not reject them. The answers to 45,46 and 47 are D,C and C respectively. Please answer the following as well: 1. For 45, provide the set of pareto efficient outcomes. 2. For 46, provide an algebric solution if possible. Provide a mathematical argument. 3. For 47, provide provide a set of points (if exists) that will take us to the given equilibrium under the given conditions. The questions are easy. PLEASE DO NOT REJECT IT!