Q1. Following Brexit, in 2021 and beyond, should Brompton reduce the price of its core product in the U.K. market? Discuss the possible price elasticity of demand for a Brompton bike, and support your answer using theory, the case study materials, and your own research. Potential graph to be shown and explained while answering to this question: https://people.stfx.ca/tleo/Intro_Lecture_3.pdf

Q2. How do you think the weakening of the British pound in 2020 affected Brompton's production costs and revenues? What profit maximizing strategies would you recommend if sterling continues to weaken?

Q3. What could the government do to mitigate the impact to the U.K's bicycle industry if they did decide to remove the E.U. tariff on Chinese bicycles? What are the pros and cons of such actions? Justify your answer using theory, the case study materials, and your own research. Potential graph to be shown and explained while answering to this question: https://www.economicshelp.org/blog/24571/trade/impact-of-us-tariffs/

Case Information

3. Brompton Company Information ? Brompton experienced strong growth during and following the late 2000s "credit crunch" and recession: average annual growth in the period since 2008 has been a remarkable 20 per cent. ? The company sold around 45,000 folding bikes in 2015, generating revenues of some 21 million and a profit of 3.4 million. ? In 2021, the aim is to produce and sell 100,000 bikes?representing more than a doubling of output in just over five years. ? In spite of these remarkable figures, the company is still relatively small, employing just 500 members of staff.

4.Overall Bicycle Market Information ? The bicycle market is a mature one with a global presence, hence bicycles are popular everywhere and among a wide demographic. ? The global market for bicycles was estimated to be worth US$29.2 billion in the year 2020 and is projected to grow by 2.4% CAGR to 2027. ? Growth projections differ depending on geographic region, with China forecast to grow by 4.7% CAGR to 2027, and lower forecasts expected in Germany (1.1% CAGR), Japan (0.5% CAGR) and Canada (1.8% CAGR) (Global Industry Analysts 2020). 2 ? Hybrid bicycles are expected to grow by 3.1% CAGR over the same period, and around 130 million electric bicycles are expected to be sold between 2020 and 2023. ? Even taking into account the economic impact of the COVID-19 crisis, sales of road bikes are expected to grow by 1.7% annually. ? In spite of the pandemic, demand for folding bicycles is increasing due to the growth in the number of people that are opting to use cycling for commuting, including those that use public transportation for part of the journey, looking to solve the Last Mile Problem

IA. The study of economics is comprised of three general areas: microeconomics, macroeconomics, and econometrics. What is econometrics? Provide a comprehensive definition of econometrics. IB. What are the two general uses of econometric models? List and briefly discuss both of these. IC. The multiple linear regression model was argued, in general, to be superior to the uni-variate linear regression model for two reasons. Considering your response to IB, discuss the two reasons the multiple regression model is superior.QUESTION 13 A list of all accounts and their balances after posting closing entries is referred to as: O A trial balance. O An adjusted trial balance. O A post-closing trial balance. An accounting trial balance. QUESTION 14 A list of all accounts and their balances after updating account balances for adjusting entries is referred to as: O A trial balance. O An adjusted trial balance. O A post-closing trial balance. O An accounting trial balance. QUESTION 15 A post-closing trial balance: Is a list of all accounts and their balances after adjusting entries. Is a list of all accounts and their balances before adjusting entries. Is a list of all accounts and their balances after closing entries. O Is a trial balance adjusted for cash-basis accounting.PART V Local Optimization (15 points) Perform local optimization on the following basic block. Assume the registers ti (i=1,...,8) are not used outside of this basic block. Show in each step the kind of optimization (e.g., algebraic simplification) and the outcome of this optimization. Apply as many iterations of local optimization as you can. tl = a -4 12=i * 4 13 = tl [t2] 14 =a-4 15 =i * 4 t6 = 14[15] 17 = 13 * t6 18 = sum + 17 sum = 18 i=i+1 1. Kind of optimization: Resulting code: 2. Kind of optimization: Resulting code: 3. Kind of optimization: Resulting code:Linear Programing Formulation (5 Points) Onestion 2: Alton Company manufactures two products, A and B. on machines I and II. The company will realize a profit of $3/unit of product A and a profit of $4/unit of product B. Manufacturing I unit of product A requires 6 min on machine I and 5 min on machine II. Manufacturing I unit of product B requires 9 min on machine I and 4 min on machine II. There are 5 hr of time available on machine I and 3 hr of time available on machine II in each work shift. Express your answer to the following questions using mathematical equations or inequalities. a) What is the objective function? (The function to be optimized?) Express your answer using mathematical equations or inequalities. b) What are the constraints? 15 minutes on slideQUESTION S Behavioral economics A studies why people choose not to optimize B. Studies why people optimize C Studies why people sometimes don't optimize @ D. Studies why people behave badly when buying or selling QUESTION 6 A market @ A Always involves the personal exchange of goods for money @ B. Allows interactions betweenbuyers and sellers C Always takes place at a physical location @ D. Has no influence of prices QUESTION 7 If the price of automobiles were to increase substantially. the demand curve for gasoline would most likely DA. Shift leftward B. Shift rightward C. Remain unchanged 1) D. Become steeper