Assignment 1: Demand Estimation Due Week 3 and worth 200 points Imagine that you work for the maker of a leading brand of low-calorie‚ frozen microwavable food that estimates the following demand equation for its product using data from 26 supermarkets around the country for the month of April. For a refresher on independent and dependent variables‚ please go to Sophia’s Website and review the Independent and Dependent Variables tutorial‚ located at http://www.sophia.org/tutorials/independent-and-dependent-variables--3
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VALUE Vs PRICE There are four major attributes of a commodity i.e.‚ an item or service produced for‚ and sold on the market has four major attributes. They are: • a value • a use‐value (or utility) • an exchange value • a price (it could be an actual selling price or an imputed ideal price) VALUE In simple words‚ value refers to the importance of a thing or utility of a commodity. But in economics the term “value” has a quite different meaning. According to the famous economist
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along with other harmful substances. Cigarette is a great product to be selling for the firm. As the customers(smokers) are addicted to nicotine ‚ these firms can rely on them for continuous demand and they can easily increase supply. Therefore‚ the firms can easily monopoly the market and fix their own price. One of the reasons for a firm to enter the market of producing cigarettes would be the profit. These giant tobacco companies makes billion yearly profit after tax. However‚ these firm has to
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Carry out study of a Classical Guitar and write a report on its history‚ development and construction. The classical guitar‚ sometimes called the Spanish or nylon strung guitar‚ consists of a hollow body made with a top‚ back and sides constructed from thin pieces of wood carved and shaped to give the familiar traditional figure of eight shape. A long narrow piece of wood‚ called the neck‚ is attached to the body at one end and has‚ at the other end‚ a headstock to which are attached six tuning
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Mechanism Description of an electric guitar Introduction An electric guitar is a stringed musical instrument played with fingers or a plectrum (pick). It consists of a body‚ a neck and a headstock to which usually six steel strings are attached. The magnetic pickups transform the vibrations of the steel strings into audio signals that are driven through an amplifier. Thus‚ the amplifier is also an essential part of the electric guitar. It was the need of amplified sound
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The demand for resources is a derived demand‚ derived from the products or services which resources help produce. For example‚ people do not demand acres of land or tractors‚ but they do demand the food products that are produced. There are several factors that the strength of demand depend on including‚ productivity of the resource in helping to produce goods and the market value or price of the good. A resource which is highly productive in producing a highly demanded product will be in great
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services by local‚ state and federal governments. –Does notinclude transfer payments because they are not made in exchange for currently produced goods or services. •Net exports (NX): –Exports minus imports. Y= C+ I+ G+ NX GDP= C+ I+ G + (X–M) What is included and not included in GDP Consumption •Personal (household) Consumption Expenditure (C) –Durable consumer goods –Non-durable consumer goods –Services Investment •Gross Private (Domestic) Investment (I) •Final purchases of machinery
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resources‚ prices‚ goods and services‚ the study of macroeconomics‚ takes a broader approach such as the nations’ economy or the GDP. Nevertheless‚ both micro- and macroeconomics provide fundamental tools when studying the economy. This paper will discuss the examples of the supply and demand curves as they were presented in the simulation. In addition‚ factors affecting these curves such as changes in population‚ government‚ employment‚ and trend all take part in shifting these curves causing pricing
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Demand Forecasting in the Indian Retail Industry Applied Economics (HS 700) Course Project Report Vijay Gabale (07305004) Ashutosh Dhekne (07305016) Piyush Masrani (07305017) Sumedh Tirodkar (07305020) Tanmay Mande (07305051) March 19‚ 2008 1 Contents 1 Introduction 1.1 Background . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1.2 Objective . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 Challenges Faced in Demand Forecasting 3 Theoretical Framework 3.1 Judgemental
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television fundamentally lies in his overarching theory called The Sleeper Curve. A thread is a strand of information in one scene; a scene can have up to ten threads increasing the complexity of the show. Multithreading is “keeping [these] densely interwoven plotlines distinct” (Johnson 63). In comparison to earlier television shows that only followed one or two stories‚ today’s features present a greater deal of complexity. The plot lines in shows like Starsky and Hutch and Dragnet are easy to follow. The
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