Lucy is preparing to invest in a new online franchise, notable moments. the franchisor provides the exclusive software and training for designing invitations and cards for special occasions such as weddings, graduations, and birth announcements. in return, the franchisee is required to pay a monthly fee to the franchisor. lucy will use the notable moments software to create her own special designs that she will ultimately feature on her website. order turnaround time must be fast. she can only take on as many clients as she can make good on delivery. an advantage of lucy's online franchise is that she

multiple choice

has a limited territory.

has a narrow product offering.

does not need name recognition or marketing assistance.

has an unlimited territory.

You are the owner of a local honda dealership. unlike other dealerships in the area, you take pride in your “no haggle” sales policy. last year, your dealership earned record profits of $1.5 million. however, according to the local chamber of commerce, your earnings were 10 percent less than either of your competitors. in your market, the price elasticity of demand for midsized honda automobiles is 4.5. in each of the last five years, your dealership has sold more midsized automobiles than any other honda dealership in the nation. this entitled your dealership to an additional 30 percent off the manufacturer’s suggested retail price (msrp) in each year. taking this into account, your marginal cost of a midsized automobile is $11,000. what price should you charge for a midsized automobile if you expect to maintain your record sales?