You are a monopolist that sells textbooks to undergraduate students. currently you sell 100 books at a price of $100 each, for revenue of $10,000. each book is essentially costless to print, so you ignore costs and focus on maximizing revenue. based on research by your marketing team, you learn that some students will not buy the book if the price goes up. also, if you cut the price more students will buy the book.

1. if the elasticity of demand is 0.5, what will be your new revenue if you raise the price by 10%?

2. if the elasticity of demand is 2, should you raise the price or lower the price? briefly explain without performing any calculations.

What is the communication process? why isnt it possible to communicate without using all the elements in the communication process?

Harry is 25 years old with a 1.55 rating factor for his auto insurance. if his annual base premium is $1,012, what is his total premium? $1,568.60 $2,530 $1,582.55 $1,842.25

Ardmore farm and seed has an inventory dilemma. they have been selling a brand of very popular insect spray for the past year. they have never really analyzed the costs incurred from ordering and holding the inventory and currently fave a large stock of the insecticide in the warehouse. they estimate that it costs $25 to place an order, and it costs $0.25 per gallon to hold the spray. the annual requirements total 80,000 gallons for a 365 day year. a. assuming that 10,000 gallons are ordered each time an order is placed, estimate the annual inventory costs. b. calculate the eoq. c. given the eoq calculated in part b., how many orders should be placed and what is the average inventory balance? d. if it takes seven days to receive an order from suppliers, at what inventory level should ardmore place another order?