The XYZ company is a producer of dishwashers. The company’s marketing department has estimated the following demand curve for the company’s best-selling model in one of its regions. Q = 2000-4P+6A+5l+5Pc – 4Ac Where Q = Number of dishwashers demanded P = $600; Price of dishwashers A = $150; Advertising expenditures (thousands) I = $50; GDP per capita (thousands) PC = $500; Competitor’s price AC = $200; Competitor’s advertising expenditures (thousands) a. Calculate the amount demanded for this product using the information given above. b. Plot the demand curve with P on the vertical axis and Q on the horizontal axis. c. Calculate the price to sell 3450 units. d. What would be the effect on the sales of dishwashers if the competitor reduces price by $50? What should be the change in P to offset the decrease in PC ? e. In response to competitor’s strategy of reducing PC , what else can the company do to keep sales at the same level if it does not want to change P ? (Base your answer on the information given above.) f. If the government increases the sales tax by 1 percent, what will be the sale price of dishwashers after the tax (assume that the elasticity of demand is equal to the elasticity of supply in absolute value).
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Answer:
True
Explanation:
Members of the team know their boundaries.
Answer:
b. hindsight
Explanation:
Hindsight bias: In psychology, the term hindsight bias demonstrates the propensity of a person to over evaluate his or her ability to predict a specific outcome that is considered as difficult to be predicted. It makes a person to believe that an event is easy to predict even they are not in reality. Memory distortion can occur because of hindsight bias.
Example: A man predicted that it is going to rain today but it didn't rain and then he claims that I knew the opposite is going to happen.
In the question above, the given statement may be an example of hindsight bias.
Szasz points to how people have learned the deviant or odd behaviors instead of hidden psychological causes. Seeing as Dr. Szasz felt that psychological underpinnings were of less value than the actual behaviors (i.e., he argued that there were no objective tests for designating a DSM diagnosis), the more important concept to be understood was <span><u>why the person learned to behave as they did.</u></span>
Answer:
The Earth's outer crust (the lithosphere) is composed of a series of tectonic plates that move on a hot flowing mantle layer called the asthenosphere. Heat within the asthenosphere creates convection currents that cause tectonic plates to move several centimeters per year relative to each other.
