Economics Homework Help

Need help with a 9 question quiz… Do not use the papers that are on the Studypool or any other site.

You will need to work out the problems. Knowledge of ECON equations is a MUST……..

Please see the attachment for the full assignment.

Here are the examples:

1. Your Best Brand Bike Shorts – BBB Shorts have been flying off the shelf. Your chief economist tells you that during the Covid-19 pandemic, “the taste for bicycling has changed. The price elasticity of demand is much more inelastic. The price elasticity of demand has decreased from -5.76 to -2.70.”

Before the campaign, your price was $240 per pair of BBB Shorts. What should the new price be?Please enter the new price here:

$[a] Show only your answer in the box. Do not include steps in the box and do not add the dollar sign

2. You operate a Caribbean destination resort. You currently offer plans for a cruise departing from the resort and plans for a casino stay. It is expected that in 2021 there will be some return to more normal travel. You will re-launch your advertising for 2021 announcing that customers will be able to do both for one price. Your marginal cost per customer is $4800.

Customer Preferences

	Cruise	Casino
Customer 1	$7,000	$3,000
Customer 2	$2,000	$6,000

Given the preferences, would bundling improve profits over the high-cost strategy? Support your conclusion by showing if (by how much) profits differ under each strategy, bundle versus high price.