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2. A food - products company has recently introduced a new line of fruit pies in six US
cities: Atlanta, Baltimore, Chicago, D enver, St. Louis and Fort Lauderdale. Based on
pie’s apparent success, the company is is considering a nation wide launch. Before doing
so, it has decided to use data collected during a two – year market test to guide it in
setting prices and forecasting future demand.
For the six markets, the firm has collected eight quarters of data for a total of 48
observations. Each observation consists of data on quantity demanded (number of pies
purchased per week), price per pie, competitors’ average price per pie, income and
population. The company has also included a time –trend variable. A value of 1 denotes
the first quarter observation, 2 the secod quarter, and so on, up to 8 for the eight and the
last quarter.
A company has run a regression on the data, obtaining the resulted displayed in the
accompanying table.
a. Which of the explanatory variables are statistically significant? Explain. How much
of total variation in pie sales does the regression model explain?
3. Presto Products, Inc., recently introduced an innovative new frozen dessert maker with
the following revenue and cost relations:
P = $60 - $0,005Q
TC = $88,000 + $5Q + $0.0005Q2
MR = ΔTR/ΔQ = $60 + $0.01Q
MC = ΔTC/ΔQ = $5+ $0.001Q
a. Set up a spreadsheet for output (Q), price (P), total revenue (TR), marginal revenue
(MR), total cost (TC), marginal cost (MC), total profit (π), and marginal profit (Mπ).
Establish a range for Q from 0 to 10,000 in increments of 1,000 (i.e., 0, 1,000,
2,000…, 10,000).
b. Use the spreadsheet to create a graph with TR, TC, and π as dependent variables, and
units of output (Q) as the independent variable. At what price/output combination is
total profit maximized? At what price/output combination is total revenue
maximized?
c. Determine these profit-maximizing and revenue-maximizing price/output
combinations analytically. In other words, use the profit and revenue equations to
confirm your answers to part B.
d. Compare the profit-maximizing and revenue-maximizing price/output combinations,
and discuss any differences. When will short-run revenue maximization lead to long-
run profit maximization?
*****GOOD LUCK*****
UTS EKONOMI MANAJERIAL
DR. WASIFAH HANIM, SE.,MSI
OPEN BOOK
1. Ekonomi manajerial memuat beberapa konsep yaitu matematika, ekonomi, statistic dan
manajemen. Jelaskan manfaat ekonomi manajerial dalam pengambilan keputusan sesuai
dengan institusi anda berdasarkan konsep-konsep tersebut.
2. Perusahaan otomotif yang memproduksi mobil merk “JAGO MOGOK” memberikan diskon
pada mobilnya sebanyak 10%. Semula harga mobil tersebut menjadi 175 juta rupiah.
Sementara itu perusahaan lain yang memproduksi mobil dengan merk “JAGO BENJUT” yang
memproduksi mobil dengan kelas yang sama sangat khawatir akan terhadap pengaruh diskon
pada harga mobil saingannya. Pada harga yang lama mobil JAGO MOGOK terjual 10.000 unit
per bulan. Jika elastisitas silang antara kedua mobil tersebut sebesar 1,5 , berapa banyak
mobil JAGO BENJUT yang terjual. Jika terjadi penurunan penjualan, startegi apa yang harus
dilakukan.
3. A food - products company has recently introduced a new line of fruit pies in six US cities:
Atlanta, Baltimore, Chicago, D enver, St. Louis and Fort Lauderdale. Based on pie’s apparent
success, the company is is considering a nation wide launch. Before doing so, it has decided to
use data collected during a two – year market test to guide it in setting prices and forecasting
future demand.
For the six markets, the firm has collected eight quarters of data for a total of 48 observations.
Each observation consists of data on quantity demanded (number of pies purchased per
week), price per pie, competitors’ average price per pie, income and population. The company
has also included a time –trend variable. A value of 1 denotes the first quarter observation, 2
the secod quarter, and so on, up to 8 for the eight and the last quarter.
A company has run a regression on the data, obtaining the resulted displayed in the
accompanying table.
a. Which of the explanatory variables are statistically significant? Explain. How much of total
variation in pie sales does the regression model explain?
b. Compute the price elasticity of demand for pies at the firm’s mean price ($7.50) and mean
weekly sales quatity (20,000 pies). Next, compute the cross- price elasticity of demand.
Comment on these estimates.
c. Other things equal, how much do we expect sales to grow (or fall) over the next year?
d. How accurate is the regression equation in predicting sales next quarter? Two years from now?
Why might these answers differ?
e. How confident are you about applying these test – market results to decisions concerning
national pricing strategies for pies?
*****GOOD LUCK*****