ECP 3703 June 5, 2013

Problem Set III Question 1 -- error found in the solution sheet & explained in the video.
Breakeven, elasticity calculations, & practical considerations in using this information.
Cannibalization and the cross elasticity of demand.
MR = MC as the rule for profit maximization.
Developing inverse demand and marginal revenue equations.
Finding marginal cost from the total cost function (derivatives).
The 'Lifetime Value of a Customer' and dealing with poor customer service -- as a customer and as a business owner/manager.
Suggestions for the midterm.