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Managerial Economics - Assignment Example

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Summary to assignment on topic "Managerial Economics"
Q1: Four factors among many that can affect the decision to pursue an MBA degree in the Kansas City area are (1) price (affordable and should not represent a big chunk of the available income or savings; availability of scholarships and do I qualify?); (2) necessity or need (Is…
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Managerial Economics
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Download file "Managerial Economics" to see previous pages... 4) the content of MBA programs available in colleges or universities in the Kansas City area (With my limited resources and time, are there MBA programs that can take me in?).
Q2: I bought an iPod, a tube of toothpaste and a branded pair of shoes. Elasticity measures the change in demand with a change in price.
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I bought the iPod (as did four friends) because prices went down, so the demand for iPods is elastic. I bought toothpaste because I ran out of it, even if the price went up by a few cents, so demand is perfectly inelastic because I had no choice unless I wanted my social life to suffer. I bought the shoes because I liked the brand, so this purchase is relatively inelastic. I bought it as the price seemed just right. These reasons – price discount, need and brand desire – made demand elastic (iPod) or inelastic (toothpaste and shoes).
Q3: Price discrimination is the practice of charging customers different prices for the same product because of factors like capacity to pay, geography or order size. Some universities practice price discrimination with financial aid, allowing them to charge rich kids higher fees and extending scholarships or tuition discounts to students from poorer families. If a theater showing Avatar charges less if they watch before 6:00 p.m., then it practices price discrimination to encourage more viewers on off-peak hours. Would I watch before 6:00 p.m.? It would depend on whether I am available, how much I can save, and what entertainment substitutes there are. The benefits of the lower price must be equal to or exceed the costs of my availing it.
1. List four factors that affect the demand for MBA degrees in the greater Kansas city area and How those factors affect the demand for MBA. Not that I am not asking about company hiring a person who has a MBA degree, I am asking about a person like you who is pursing a MBA degree.
2. List three things you purchased in past two weeks and tell whether your demand for goods or ...Download file "Managerial Economics" to see next pagesRead More
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Managerial Economics Discussion
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