In 2003, when music downloading first took off, universal music slashed the price of cds from an average of $20 to an average of $8. the company said that it expected the price cut to boost the quantity of cds sold by 75 percent. questions: (a) what was universal music’s estimate of the price elasticity of demand for cds? and (b) given your answer to (a), if you were making the price decision at universal music, would you cut the price, raise the price or leave the price unchanged? , explain your decision.

Which one of the following is a characteristic of a jit partnership? a. frequent deliveries in large lot quantities b. removal of incoming inspection c. third-party logistics never used d. maximal product specifications imposed on supplier e. active pursuit of vertical integration

Annuity payments are assumed to come at the end of each payment period (termed an ordinary annuity). however, an exception occurs when the annuity payments come at the beginning of each period (termed an annuity due). what is the future value of a 13-year annuity of $2,800 per period where payments come at the beginning of each period? the interest rate is 9 percent. use appendix c for an approximate answer, but calculate your final answer using the formula and financial calculator methods. to find the future value of an annuity due when using the appendix tables, add 1 to n and subtract 1 from the tabular value. for example, to find the future value of a $100 payment at the beginning of each period for five periods at 10 percent, go to appendix c for n = 6 and i = 10 percent. look up the value of 7.716 and subtract 1 from it for an answer of 6.716 or $671.60 ($100 × 6.716)

Dr. sperry, a biologist, is using excel to track growth rates of different populations of bacteria. she has a very complex formula in one cell. it begins with “round”. dr. sperry would like to see exactly how excel’s calculation reached the final rounded value that she sees in the cell. what could dr. sperry do to best understand how the calculation was made? try different formulas on her own until she reaches the value shown in excel click on the evaluate formula button in the formulas tab and then click “step in” select the cell and then look at the formula in the formula field of the ribbon remove “round” from the formula in order to see the actual value before rounding