According to hong and wolak (2008), a 5% postal price increase, such as the one in 2006, reduces postal revenue by $198 million and lowers consumer surplus by $333 million. hong and wolak estimate that the elasticity of demand is minus1.6. assume that there is a constant elasticity of demand function, qequalsxp superscript negative 1.6, where x is a constant and q is the quantity of first-class stamps (in millions). in 2006, the price of a first-class stamp went from $0.37 to $0.39. given the information in the problem about the effect of the price increase on revenue, calculate x. the value for x is

Burberry is pursuing a focused differentiation strategy aimed at high-end luxury customers. however, the company is also employing a segmentation strategy to separate customers within that focus. the strategy offers items at an entry-level price point for customers who desire to be like celebrities such as sarah jessica parker as well as couture items for those richest and celebrity customers. what strategy is burberry pursuing?

Your team has identified the risks on the project and determined their risk score. the team is in the midst of determining what strategies to put in place should the risks occur. after some discussion, the team members have determined that the risk of losing their network administrator is a risk they'll just deal with if and when it occurs. although they think it's a possibility and the impact would be significant, they've decided to simply deal with it after the fact. which of the following is true regarding this question? a. this is a positive response strategy.b. this is a negative response strategy.c. this is a response strategy for either positive or negative risk known as contingency planning.d. this is a response strategy for either positive or negative risks known as passive acceptance.

Use the information below to answer the following question. the boxwood company sells blankets for $60 each. the following was taken from the inventory records during may. the company had no beginning inventory on may 1. date blankets units cost may 3 purchase 5 $20 10 sale 3 17 purchase 10 $24 20 sale 6 23 sale 3 30 purchase 10 $30 assuming that the company uses the perpetual inventory system, determine the gross profit for the month of may using the lifo cost method.