principles of marketing lecture notes pdf

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Tài liệu Ten Principles of Economics - Part 6 pdf

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... pound of potatoes costs the rancher 8 pounds of meat,1 pound of meat costs the rancher 1/8 pound of potatoes. Similarly, because 1pound of potatoes costs the farmer 1/2 pound of meat, 1 pound of ... opportunitycost of producing 1 pound of meat is 2 pounds of potatoes. Explain why the rancher’s opportunity cost of producing 1 pound of meat is 1/8 pound of potatoes.2. Maria can read 20 pages of economics ... The rancher buys 1pound of potatoes for a price of 3 pounds of meat. This price of potatoes is lowerthan her opportunity cost of 1 pound of potatoes, which is 8 pounds of meat. Thus,the rancher...

Tài liệu Ten Principles of Economics - Part 8 pdf

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... quantity of ice cream you are willing to produceand offer for sale? Here are some possible answers.PriceThe price of ice cream is one determinant of the quantity supplied. Whenthe price of ice ... MARKET FORCES OF SUPPLY AND DEMAND 77MARKET SUPPLY VERSUS INDIVIDUAL SUPPLYJust as market demand is the sum of the demands of all buyers, market supply isthe sum of the supplies of all sellers. ... the price of the good. Thisrelationship between price and quantity supplied is called the law of supply:Other things equal, when the price of a good rises, the quantity supplied of thegood...

Tài liệu Ten Principles of Economics - Part 9 pdf

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... responsiveness of quantity demanded or quantitysupplied to one of its determinantsprice elasticity of demanda measure of how much the quantitydemanded of a good responds to achange in the price of that ... price of flour or a fall inthe price of milk? Illustrate and explain youranswer.b. Suppose instead that the equilibrium price of cream cheese has risen but the equilibrium quantity of bagels ... eventscertainly raise the price of ice cream, but their impact on the amount of icecream sold is ambiguous.Price of Ice-CreamCone2.00$2.50047Quantity of Ice-Cream ConesDemandNewequilibriumInitial...

Tài liệu Ten Principles of Economics - Part 11 pdf

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... THEPRICEELASTICITY OF SUPPLYCANVARY. Becausefirms often have a maximumcapacity for production, theelasticity of supply may be veryhigh at low levels of quantitysupplied and very low at highlevels of ... Concepts1. Define the price elasticity of demand and the incomeelasticity of demand.2. List and explain some of the determinants of the priceelasticity of demand.3. If the elasticity is greater ... reducing the supply of farm products may raise the in-comes of farmers, but it does so at the expense of consumers.WHY DID OPEC FAIL TO KEEP THE PRICE OF OIL HIGH?Many of the most disruptive...

Tài liệu Ten Principles of Economics - Part 56 pdf

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... Second, debt financing of wars shifts part of the cost of wars to fu-ture generations, who will have to pay off the government debt. This is argu-ably a fair distribution of the burden, for future ... THE FINANCIAL SYSTEM 577size of the changes to the $20 billion of extragovernment borrowing.c. How does the elasticity of supply of loanablefunds affect the size of these changes? (Hint: SeeChapter ... source of the supply of loanable funds—is composed of private saving and public saving.A change in the government budget deficit represents a change in public savingand, thereby, in the supply of...

Tài liệu Ten Principles of Economics - Part 63 pdf

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... Citizens of the eastWICKED WITCH OF THE EAST: Grover ClevelandWICKED WITCH OF THE WEST: William McKinleyWIZARD: Marcus Alonzo Hanna, chairman of theRepublican partyOZ: Abbreviation for ounce of ... job of the Bureau of Stan-dards—to ensure the reliability of a commonly used unit of measurement. Whenthe Fed increases the money supply and creates inflation, it erodes the real value of the ... tax on a gain of $40. Thus, inflation exaggerates the size of capital gains and inadvertently in-creases the tax burden on this type of income.Another example is the tax treatment of interest...

Tài liệu Ten Principles of Economics - Part 69 pdf

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... many of the tools we have developed in pre-vious chapters, but we have to abandon the classical dichotomy and the neutrality of money.THE BASIC MODEL OF ECONOMIC FLUCTUATIONSOur model of short-run ... isthat the supply of specific goods and services depends on relative prices—the prices of those goods and services compared to other prices in the economy. For example,when the price of ice cream ... utilization of its labor force. In other words, whenreal GDP declines, the rate of unemployment rises. This fact is hardly surprising:When firms choose to produce a smaller quantity of goods and...

Tài liệu Ten Principles of Economics - Part 33 pdf

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... market of 500,000 potential readers. It is a matter of simple arithmetic to solve Readalot’sproblem. At a price of $30, Readalot sells 100,000 copies, has revenue of $3 million,and makes profit of ... makes profit of $1 million. At a price of $5, it sells 500,000 copies, has revenue of $2.5 million, and makes profit of $500,000. Thus, Readalot maximizes profit bycharging $30 and forgoing the ... costs of production. Pri-vate owners have an incentive to minimize costs as long as they reap part of thebenefit in the form of higher profit. If the firm’s managers are doing a bad job of keeping...

Tài liệu Ten Principles of Economics - Part 75 pdf

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... to offer a downward-sloping one? Shouldn’t the findings of Phillips, Samuelson, and Solow lead us to reject the classical conclusion of mone-tary neutrality?Quantity of OutputNatural rate of ... Department of Labor;U.S. Department of Commerce. CHAPTER 33 THE SHORT-RUN TRADEOFF BETWEEN INFLATION AND UNEMPLOYMENT 767growth or decline in nominal national income, the rate of growth of the ... quantity of money. It cannot use its control over nominal quantities to peg a realquantity—the real rate of interest, the rate of unemployment, the level of realnational income, the real quantity of...

Tài liệu Ten Principles of Economics - Part 39 pdf

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... three-fourths of it in the form of wages and fringe benefits. The rest went to landowners and to the owners of capi-tal—the economy’s stock of equipment and structures—in the form of rent, profit,and ... between the quantity of inputs used to make a good andthe quantity of output of that goodmarginal product of laborthe increase in the amount of outputfrom an additional unit of labor ... product of that input multiplied by the market price of the output. The fourth column in Ta-ble 18-1 shows the value of the marginal product of labor in our example, assum-ing the price of apples...