2 XYZ produce chocolate bars and sell them to supermarkets. Its bestselling brand is ChocDelight. It is put in expensive packaging and is sold as a luxury

product. This bestselling chocolate bar has had high and steady sales for the

last five years, but recently sales have started to fall as it has now reached the

decline stage of the product life cycle.

a) What is meant by a 'brand'?

b) Identify two ways the business could react to the falling sales of the

chocolate bars.

c) Identify and explain two characteristics of the packaging of the

chocolate bars.

d) Identify and explain two possible reasons why XYZ's chocolate bars are

successful.

e) Do you think giving the chocolate bar a brand name was necessary for its

success? Justify your answer.

Abakery wants to determine how many trays of doughnuts it should prepare each day. demand is normal with a mean of 5 trays and standard deviation of 1 tray. if the owner wants a service level of at least 95%, how many trays should he prepare (rounded to the nearest whole tray)? assume doughnuts have no salvage value after the day is complete.

2. the language of price controls consider the market for rental cars. suppose that, in a competitive market without government regulations, the equilibrium price of rental cars is $58 per day, and employees at car rental companies earn $19.50 per hour. complete the following table by indicating whether each of the statements is an example of a price ceiling or a price floor and whether it results in a shortage or a surplus or has no effect on the price and quantity that prevail in the market. statement price control effect there are many teenagers who would like to work at car rental companies, but the minimum-wage law sets the hourly wage at $23.00. the government has instituted a legal minimum price of $87 per day for rental cars. the government prohibits car rental companies from renting out rental cars for more than $87 per day.

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