- During a recession the store manager for a large electronic goods retailer (wynet) wants to increase sales volumes of both flat screen TVs and DVD players to help that department reach its sales goal; however, a recent market research department analysis showed that demand for flat screen TVs was price sensitive but demand for DVD players was not. how could the manager achieve the sales goals for these two products and how would that strategy be affected by its timing and thus what else would he/she need to do to achieve the sales goal?
- Oil prices increased by 90% during the first half of 2008 just when the U.S. recession was talking hold- in other words the economy was on a decline. How did this affect the market for air travel? (NOTE: on a separate sheet of paper work out the answer using graphs and then summarize in words what happened)
- Suppose that production of wheat is a perfectly competitive market/industry. Given the following information currently for the wheat market:
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