SAMSUNG’S NEWEST AD ON TWITTER FOR THE NEW GALAXY NOTE9 HAS RECEIVED OVER 5 MILLION LIKES AND 2 MILLION RETWEETS. AS A RESULT, WHAT WILL HAPPEN TO THE DEMAND FOR THE GALAXY NOTE9? IN WHICH DIRECTION WILL THE DEMAND CURVE SHIFT?
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- Will the demand for pay TV shows increase in the futurePQ 6.11 Suppose the cross-price elasticity of demand for Smirnoff vodka with respect to the price of Ciroc vodka has been estimated to be +0.70. If we predict that the price of Ciroc vodka will fall by 20% in the near future the quantity demanded for Smirnoff vodka will fall by. %. Type your numeric answer and submitThe following table shows two demand schedules for a given style of men’s shoe—that is, how many pairs per month will be demanded at various prices at a men’s clothing store in Seattle called Stromnord. Suppose that Stromnord has exactly 65 pairs of this style of shoe in inventory at the start of the month of July and will not receive any more pairs of this style until at least August 1. a. If demand is D1, what is the lowest price that Stromnord can charge so that it will not run out of this model of shoe in the month of July? What if demand is D2? b. If the price of shoes is set at $75 for both July and August and demand will be D2 in July and D1 in August, how many pairs of shoes should Stromnord order if it wants to end the month of August with exactly zero pairs of shoes in its inventory? What if the price is set at $55 for both months?
- In 2003, when music downloading first took off, Universal Music slashed the average price of a CD from $21 to $15. The company expected the price cut to boost the quantity of CDs sold by 30 percent, other things remaining the same. What was Universal Music’s estimate of the price elasticity of demand for CDs? If you were making the pricing decision at Universal Music, what would be your pricing decision? Explain your decision.Typed and correct answer please. I ll rateThe following table shows two demand schedules for a given style of men's shoe-that is, how many pairs per month will be demanded at various prices at Stromnord, a men's clothing store. Price $ 85 80 75 70 65 D₁ Quantity Demanded 53 60 What if demand is D2? 68 77 87 Suppose that Stromnord has exactly 65 pairs of this style of shoe in inventory at the start of the month of July and will not receive any more pairs of this style until at least August 1. Instructions: Enter your answers as a whole number. a. If demand is D₁, what is the lowest price that Stromnord can charge so that it will not run oht of this model of shoe in the month of July? pair(s) D2 Quantity Demanded 13 15 18 22 27 b. If the price of shoes is set at $85 for both July and August and demand will be D2 in July and D in August, how many pairs of shoes should Stromnord order if it wants to end the month of August with exactly zero pairs of shoes in its inventory? pair(s) How many pairs of shoes should it order if the…QUESTION 3 Instagrum, a popular and free photo-sharing application, has introduced a new premium subscription service called Instagrum Pro. Instagrum Pro will include some additional featuers, more photo filters and more editing options. The price of the subscription is $4.99 USD per month. Suppose Instagrum knows that at the current price, the point price elasticity of demand for the Instagrum Pro service is elastic. Select the item from the list provided to make the following statements true. ✓ In order to increase revenue, Instagrum should the price of Instagrum Pro. item ✓ Instagrum Pro could be considered a/an because you can still post pictures on Instagrum (with fewer filters and editing options) without paying for Instagrum Pro ✓ A 1% increase in the price of Instagrum Pro would lead to a/an than 1% decrease in the number of paying subscribers. 1. budget 2. first increase then decrease 3. greater 4. first decrease then increase 5. necessary 6. increase 7. luxury 8.…
- I used to buy 3 movies a month, but when Connecting U dropped the price of a gigabyte of data from a high of $20 to a low of $14.48 (a total decrease of 32.02 percent according to the midpoint formula), I want to buy 5 movies a month. A) My demand for movies increases by 33.34% B) My demand for movies increases by 66.67% C) My demand for movies increases by 50% Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.explain how a decrease in the real income of consumers would affect the market for luxury wallets sold by Saks Fifth Avenue.Suppose income increases by 25 percent and, as a result, the quantity of a particular brand of automobile demanded (holding the price for this particular automobile constant) increases by 39 percent. The income elasticity of demand for this brand of car is (Enter your response rounded to two decimal places and include a minus sign if appropriate.)
- Explain in your own words what information the income elasticity of demand provides. Suppose consumers experience an increase in income. If the income elasticity of demand is equal to 1.6, what will happen to the demand for new cars? As a result of the increase in income, holding other things constant, what will happen to new car prices. Suppose consumers experience an increase in income. If the income elasticity of demand is equal to -1.6, what will happen to the demand for used cars? As a result, holding other things constant, what will happen to the price of used cars?Pharmaceutical drugs have an inelastic demand, and computers have an elastic demand. Suppose that technological advance doubles the supply of both products. Now the questions are: 1. Which product experiences a larger change in price? 2.The following table shows two demand schedules for a given style of men's shoe-that is, how many pairs per month will be demanded at various prices at Stromnord, a men's clothing store. $ Price $75 70 65 60 55 $ D1 Quantity Demanded 53 60 68 77 87 Suppose that Stromnord has exactly 65 pairs of this style of shoe in inventory at the start of the month of July and will not receive any more pairs of this style until at least August 1. Instructions: Enter your answers as a whole number. a. If demand is D₁, what is the lowest price that Stromnord can charge so that it will not run out of this model of shoe in the month of July? What if demand is D2? D2 Quantity Demanded 13. 15 18 22 27 b. If the price of shoes is set at $75 for both July and August and demand will be D2 in July and D₁ in August, how many pairs of shoes should Stromnord order if it wants to end the month of August with exactly zero pairs of shoes in its inventory? pair(s) How many pairs of shoes should it order if the price…