The hull petroleum company and inverted v are retail gasoline franchises that compete in a local market to sell gasoline to consumers. hull and inverted v are located across the street from each other and can observe the prices posted on each other’s marquees. demand for gasoline in this market is q = 70 -9p, and both franchises obtain gasoline from their supplier at $3.40 per gallon. on the day that both franchises opened for business, each owner was observed changing the price of gasoline advertised on its marquee more than 10 times; the owner of hull lowered its price to slightly undercut inverted v’s price, and the owner of inverted v lowered its advertised price to beat hull’s price. since then, prices appear to have stabilized. under current conditions, how many gallons of gasoline are sold in the market, and at what price?

What cylinder head operation is the technician performing in this figure?

The questions of economics address which of the following ? check all that apply

Onsider the following subscription behavior information from genie, a web site that provides tools for constructing a family tree (ancestor search). subscriptions cost $9.99 per month, but you are charged for the entire year at the time of purchase. there is a one-year minimum term when you sign up for the service. once purchased, subscriptions are set to renew automatically unless the subscriber cancels them. when a membership renews, it renews for a one-year term and again you are charged for the entire year. there are no variable costs associated with providing this service to an individual customer, but genie does engage in customer relationship activities that they believe will increase customer retention. these customer relationship activities cost genie about $10 per year per customer. based on a sample of 1000 customers that joined genie five years ago, near the time when the company was founded, they were able to determine how many of those customers remained subscribers in the second year, third year etc. based on this information, genie calculated the average annual retention rate to be 20%. genie uses an annual discount rate of 8%. a. last year, genie spent $10,000 placing advertisements on google. genie management believes that these advertisements were responsible for about 300 new subscribers. would you recommend to genie management that they purchase more google ads? b. suppose a newly-introduced loyalty program increases the number of customers that remained to 30%. does this new data change your answer to 9.a? c. do you have any hesitations or concerns about making recommendations to management based on your above estimate of customer lifetime value?