Answer:
C. A firm to be able to segment its customers based on different price elasticities of demand
Answer:
Having a good business idea and market research would make it crystal clear whether or not the project is viable or not. The first thing is that Jean must consider is that he must analze whether the project is financially viable or not. Once we are sure that the return is above the market average thereafter then Jean must consider writing the business proposal.
In business proposal Jean must present his innovation, market research, customer segments, entrepreneur ecosystem in which the business would operate. The marketing strategy, sales forecasting on well researched market research which provides solid grounds for forecasting, future targets, etc. So these all things must be considered while writing. I have prepared a business proposal and worked as a market researcher for that business proposal, traveled 300km for gathering market research. Paper work is nothing in startup. Everything is your market research, understanding your customers, competitors and costs that are associated with the products that we are going to offer.
I will also like to tell that commitment brings money. If you are committed to do a particular thing then be committed but you must analyze the situation first (market research, investment appraisal). Funds are limitless to committed poeples. US startup loans, accelerators programs, etc. There are millions of sources of finance options. We are not in 19 hundred, we are in a modern world and we can arrange money for an attractive investment.
Answer:
$52
$ 1.33
- consumer price will increase
- consumer surplus will decrease
- import will decrease
- reduced export
- portends gloom for the general outlook for the economy
Explanation:
Given domestic demand curve, S(p) = 20p⁻⁰°⁵
the domestic supply curve S(p)= 5p⁰°⁵
world price is $7.00
using calculus to determine the changes in consumer surplus
by consumer surplus means in this case supply exceeds demand
we establish the equilibrium point where the supply and demand functions meet or are equal
solving 20p⁻⁰°⁵ = 5p⁰°⁵
20/5 = p⁰°⁵/p⁻⁰°⁵
4 = p⁰°⁵⁺⁰°⁵
4= p = q which is the quantity produced
consumer surplus = maximum price willing to pay - Actual price
= ∫⁴₀ dp dp - p* q
= ∫⁴₀20p⁻⁰°⁵ dp- 7* 4
= 20∫⁴₀p⁻⁰°⁵ dp -28
= 20/0.5 p⁰°⁵- 28
= 40 *4⁰°⁵ - 28 = $52
producer surplus = it is a measure of producer welfare. It is measured as the difference between what producers are willing and able to supply a good for and the price they actually receive
thus producer surplus = p* q - ∫⁴₀ d(s) dp
= 7 * 4 - ∫⁴₀ 5p⁰°⁵ dp
= 28 - 5 ∫⁴₀ p⁰°⁵ dp
= 28 -5 *2/3 p¹°⁵
= 28 -5 *2/3 4¹°⁵
=$ 1.33
welfare from eliminating free trade
- consumer price will increase
- consumer surplus will decrease
- import will decrease
- reduced exports
- portends gloom for the general outlook for the economy
Variable costs.
Hope that helps, Good luck! (:
