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Describe what was happening before and after the acid was added, and why.  

If an on-campus exam cannot be given, how will it be administered instead?

What is a possible penalty for a student who violates the Academic Honesty Policy?

What would efficient revenue management imply for the pricing of parking at the State Farm Stadium (home of the Arizona Cardinals football team) on typical game days? How about if the stadium were hosting the Super Bowl? How about for the many smaller events that fill less than half the lot?

Last year, a toy manufacturer introduced a new toy truck that was a huge success. The company invested $2.5 million for a plastic injection molding machine (which can be sold for $2.0 million) and $100,000 in plastic injection molds specifically for the toy (not valuable to anyone else). Labor and the cost of materials necessary to make each truck is about $3. This year, a competitor has developed a similar toy that has significantly reduced demand for the toy truck. Now, the original manufacturer is deciding whether they should continue production of the toy truck. If the estimated demand is 100,000 trucks, what is the break-even price for the toy truck? Should you shut down?

Soft selling occurs when a buyer is skeptical of the usefulness of a product and the seller offers to set a price that depends on realized value. For example, suppose you’re trying to sell a company a new accounting system that will reduce costs by 10%. Instead of naming a price, you offer to give them the product in exchange for 50% of their cost savings. Describe the information asymmetry, the adverse selection problem, and why soft selling is a successful signal.

To increase a company’s performance, a manager suggests that the company needs to increase the value of its product to customers. Describe why this advice might be incorrect (Hint: Think about what else might or might not change that affects profit.)

Vudu is a movie video-on-demand service that, until recently, was owned by Walmart. While most streaming services charge a monthly fee for unlimited use, Vudu charges for each movie watched. Would offering unlimited streaming for a monthly fee likely yield more or less profit for Vudu than charging for movies individually?

In the final round of a TV game show, contestants have a chance to increase their current winnings of $1 million dollars to $2 million dollars. If they are wrong, their prize is decreased to $500,000. The contestant thinks his guess will be right 50% of the time. Should he play? What is the lowest probability of a correct guess that would make playing profitable?

Why might Mattel set a much lower margin on its Barbie dolls than on the accessories for the dolls?