All goods and services come at a price. But how are these prices determined? For this week’s discussion, imagine you are starting your own lemonade stand. However, this is no ordinary lemonade stand. You offer a wide variety of lemonade, including traditional, pink, red raspberry, and frozen lemonade. In all, you have 10 different flavors and types for your customers to choose from. Based on your selections, costs, and competition from other lemonade stands, how will you determine your prices? Write a 1–2 paragraph response describing how your prices are determined. Be creative and detailed with your response.

What is the best definition of a conclusion?

Suppose a firm faces a fixed price of output, 푝푝= 1200. the firm hires workers from a union at a daily wage, 푤푤, to produce output according to the production function 푞푞= 2퐸퐸12. there are 225 workers in the union. any union worker who does not work for this firm is guaranteed to find nonunion employment at a wage of $96 per day. a. what is the firm’s labor demand function? b. if the firm is allowed to choose 푤푤, but then the union decides how many workers to provide (up to 225) at that wage, what wage will the firm set? how many workers will the union provide? what is the firm’s output and profit? what is the total income of the 225 union workers? c. now suppose that the union sets the wage, but the firm decides how many workers to hire at that wage (up to 225). what wage will the union set to maximize the total income of all 225 workers? how many workers will the firm hire? what is the firm’s output and profit? what is the total income of the 225 union workers? [hint: to maximize total income of union, take the first order condition with respect to w and set equal to 0.]

In our daily interactions we can find ourselves listening to other people solely for the purpose of finding weakness in their positions so that we can formulate a convincing response. select one: true false