Question

You are manager of a souvenir store in New York City that sells, among other things, post cards. You buy the post cards from

0 0
Add a comment Improve this question Transcribed image text
Answer #1

Answer

option 3

The formula is:

P=MC/(1+(1/e))
P=price
MC=marginal cost
e= elasticity

Using formula and values

P=0.1/(1+(1/(-2)))

=0.2

=$0.2

the price is $0.2


Add a comment
Know the answer?
Add Answer to:
You are manager of a souvenir store in New York City that sells, among other things,...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions
  • Question 2 The manager of the greeting card section of Mazey’s department store is considering her...

    Question 2 The manager of the greeting card section of Mazey’s department store is considering her order for a particular line of holiday cards. The cost of each box of cards is $3; each box will be sold for $5 during the holiday season. After the holidays, cards will be sold for $2 a box. The card section manager believes that all leftover cards can be sold at that price. The estimated demand during the holiday season for the line...

  • Analysis of Pricing: You manage The Atlantic Taffy Company which makes a saltwater taffy bar for sale to gift shops from Atlantic City, New Jersey, to Mount Desert Island near Bar Harbor Maine. The c...

    Analysis of Pricing: You manage The Atlantic Taffy Company which makes a saltwater taffy bar for sale to gift shops from Atlantic City, New Jersey, to Mount Desert Island near Bar Harbor Maine. The company sells individually wrapped bars in boxes of 50 for $81.00 each. The candies retail for $3.99 for an individual bar and sales have been strong. The owners of the Atlantic would like to increase its sales and profits. They know that, if price is lowered,...

  • You are the new manager of the local Tronic Electronics store. Top management of Tronic Electronics is convinced that ma...

    You are the new manager of the local Tronic Electronics store. Top management of Tronic Electronics is convinced that management training should include the active participation of store managers in the budgeting process. You have been asked to prepare a complete master budget for your store for​ June, July, and August. All accounting is done centrally so you have no expert help on the premises. In​ addition, tomorrow the branch manager and the assistant controller will be here to examine...

  • Narges is a store manager in the Vancouver location of Elysia Kim Fashion’s Inc. (“EKF”), a...

    Narges is a store manager in the Vancouver location of Elysia Kim Fashion’s Inc. (“EKF”), a moderately profitable international women’s fashion store with over 100 locations in 65 countries around the world. While EKF has struggled in the retail industry with flat sales and heavy competition from other women’s fashion retailers, for the first time in four years EKF showed a modest rise of four percent in its annual net profit from its worldwide store sales. This prompted the company...

  • THE COMPANY: MORE POWER, INC. More Power, Inc., is a large, local retail store specializing in...

    THE COMPANY: MORE POWER, INC. More Power, Inc., is a large, local retail store specializing in the sale and service of hardware, tools, lawn and garden implements, and other materials for the home. More Power operates seven days a week, dawn to dusk. Approximately 120 employees work in distinct divisions within the store, including customer service/return desk; warehouse and delivery; service and repair; and three distinct sections focused on (1) hardware and tools, (2) lawn and garden and outdoors, and...

  • Please read the attached article from the New York Times and write a short paper answering...

    Please read the attached article from the New York Times and write a short paper answering the below questions. There is no length minimum for the essay. I would anticipate approximately 1-2 pages double-spaced, 12pt Times New Roman font to address all required elements. Papers over 2 pages will receive an automatic reduction of 50%. Your task is to accomplish two goals in your paper: Analyze a business problem(s) presented in the article and describe its effect on the business...

  • Article: Lancer Gallery Lancer Gallery is a limited Liability company that sources and sells a wide...

    Article: Lancer Gallery Lancer Gallery is a limited Liability company that sources and sells a wide variety of South American and African artifacts. It is also a major source of southwestern Indian-especially Hopi and Navajo-authentic jewelry and pottery. Although the firm's headquarters are in Phoenix, Arizona, there are currently branch offices in Los Angeles, Miami, and Boston. Lancer Gallery originated as a trading post operation near Tucson, Arizona, in the early 1900s. Through a series of judicious decisions, the company...

  • Can Technology Save Sears? Sears, Roebuck used to be the largest retailer in the United States, w...

    Can Technology Save Sears? Sears, Roebuck used to be the largest retailer in the United States, with sales representing 1 to 2 percent of the U.S. gross national product for almost 40 years after World War II. Since then, Sears has steadily lost ground to discounters such as Walmart and Target and to competitively priced specialty retailers such as Home Depot and Lowe’s. Even the merger with Kmart in 2005 to create Sears Holding Company failed to stop the downward...

  • As a subsidiary manager, would you consider Regent’s use of the beginning-of-the-year exchange rate for budget...

    As a subsidiary manager, would you consider Regent’s use of the beginning-of-the-year exchange rate for budget setting and average-of-the-year rate for budget tracking appropriate? Why? What changes in the budgeting process can Regent make to prepare foreign subsidiary managers to better respond to the effects of inflation and exchange rate changes? It was January 2016, and Lee Morgan, CEO of Regent, Inc., was getting ready to review the financial performance of Regent’s subsidiaries. In recent years, this exercise had become...

  • Coffee Cravers Ignoring Bean-Price Surge for Caffeine Fix by Marvin G. Perez and Lynn Doan Coffee...

    Coffee Cravers Ignoring Bean-Price Surge for Caffeine Fix by Marvin G. Perez and Lynn Doan Coffee Cravers Ignoring Bean-Price Surge for Caffeine Fix Marvin G. Perez and Lynn Doan March 13, 2014, 5:17 PM EDT Doreen Cappelli is so hooked on her morning cappuccino that she says she’d pay a lot more to get it. “I don’t drink wine and alcohol,” Cappelli, 52, said after buying the $3.25 drink at Blue Bottle Coffee at San Francisco’s Ferry Building, in the...

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT