Microeconomics (9th Edition) (Pearson Series in Economics)
Microeconomics (9th Edition) (Pearson Series in Economics)
9th Edition
ISBN: 9780134184241
Author: Robert Pindyck, Daniel Rubinfeld
Publisher: PEARSON
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Chapter 4, Problem 14E
To determine

The factors influencing decision making.

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Which products are for you not price sensitive, so that you would buy them even if the price increased significantly?
Type the correct answer in the box. Spell all words correctly. Vivian conducted market research on her company’s products. She found that after the company raised the price of its product by $1.50, the demand in the uptown region remained the same with only minor fluctuations. However, she found that the demand in the downtown region dropped by 20 percent after the price change. How should Vivian take these demands into consideration? In a situation where demand differs in different areas, Vivian should consider the demand.
Jenny is going to rent a truck for one day. There are two companies she can choose from, and they have the following prices. Company A charges $90 and allows unlimited mileage. Company B has an initial fee of $55 and charges an additional $0.70 for every mile driven.
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