Consider the questions below
The market demand curve for tennis lessons in Venice, CA is given by:
Q=1,000-20P
where Q is the number of overall lessons per week and P is the price for each lesson. There is a large number of (identical) tennis coaches who all face the same, constant marginal costs of $10 per hour. Each tennis lesson is one hour long. Tennis coaches face no fixed costs, and the tennis courts are available for free.
For now, suppose that the tennis coaches compete for lessons, and they do not coordinate with each other.
A. (2 points) What is the price of a lesson and the quantity of lessons booked per week?
B. (3 points) Compute the consumer surplus of people booking tennis lessons (per week). Show graphically which area the consumer surplus reflects (this does not need to be scaled correctly - just a sketch with appropriately labeled lines and axes is sufficient).
Now suppose that all tennis coaches in Venice form an association, and they now coordinate on pricing. The cost per lesson is unchanged.
C. (4 points) What is the profit-maximizing price per lesson that the tennis coach association should charge? What is the corresponding number of lessons that will be booked each week in total?
D. (4 points) Compute the consumer surplus of people booking tennis lessons (per week) under this new pricing. What is the dead weight loss? Show graphically which area the consumer surplus and dead weight loss reflect (as before, this does not need to be scaled correctly - just a sketch with appropriately labeled lines and axes is sufficient).
E. (3 points) The city now introduces a weekly fee of $5,000 that the Venice tennis coach association has to pay for the use of the tennis courts (independent of how many lessons are being offered). How does this fee affect the price per lesson that the association charges? Should the association continue to offer lessons in the long run?
Question 3 Some researchers who utilise Legitimacy Theory posit that organisations will attempt to operate within the terms of their 'social contract". What is a social contract? Question 4 In 2006 the Australian Government established an inquiry into corporate social responsibilities with the aim of deciding whether the Corporations Act should be amended so as to specifically include particular social and environmental responsibilities within the Act. At the completion of the inquiry it was decided that no specific regulations would be added to the legislation, and that instead, 'market forces' would be relied upon to encourage companies to do the 'right thing' (that is, the view was expressed that if companies did not look after the environment, or did not act in a socially responsible manner, then people would not want to consume the organisations' products, and people would not want to invest in the organisation, work for them, and so forth. Because companies were aware of such market forces they would do the 'right thing' even in the absence of legislation). You are required to explain the decision of the government that no specific regulation be introduced from the perspective of: 1. Public Interest Theory 2. Capture Theory 3. Economic Interest Group Theory of regulation.Ashley's company makes office equipment for both personal home use and office use. Her company spends much more money on advertising in the B2C part of her business rather than the B28 part of the business. Why? A. Publicity is the most effective advertising technique in B2B markets B. B28 marketing is too expensive to use advertising OC. B2B marketing usually involves more personal selling D. B28 markets are too heterogeneous to use advertising OE. Business consumers are more critical of advertising, so it doesn't work as well QUESTION 14 When starting to plan his company's advertising campaign, Haoran first asked, "What appeal should we use?". Why is this a bad first question? A He hasn't determined his target audience O B. He hasn't determined which media he will use C. He hasn't asked which resources he has, such as actors and film equipment O D. Appeals are only used in social media marketing, not in advertisingif a. a. Most of the dissatisfied customers do not speak, but just vote by their feet. True ! False b. b. Involving a manager in recovery process results in insufficient recovery. True r False c. c. Early detection in service recovery is importants especially for the customers who do not complain. True r' False Open-ended Questions: 1. 1. Why is service recovery important? 1 2. Why restaurants are important in service failure studies? Question # 3 This is about Hypothesis Proportion Confidence Interval (Level of confidence) Saint Francis Hospital in Mott Haven believes the percentage of residents in the neighborhood who have Healthcare insurance is 60%. The General Manager for the Emergency Room believes this number is to be different. He said, he conducts his own survey of 200 people and found that 100 people respondent yes to owning Health insurance Questions? 1) State the Null and Alternative Hypothesis?Question 3 2 pts You have been asked to review a friend's business plan for a local brew pub. The plan he gives you includes a description of the proposed business; industry analysis; management plan; goods, services and production process; marketing; nancial plan; and appendices. Which sections are missing? You can select more than one answer. ":' Executive Summary Mission Statement and Core Values '__\" SWOT Analysis Contingency Plan Employee Motivation Plan '5 Employee HR Plan
