To save energy and money, Jackie Smith replaced the 150 Watt incandescent light bulb in her house with a 32 Watt CFL bulb. The expected life of incandescent and CFL bulbs is 1000 and 8000 hours respectively. The purchase price of an incandescent bulb is $0.70 and for the CFL it is $5.71. The cost of electricity is 5 cents per kWh. What is her total savings over the life time of the CFL

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?