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A 20% trade discount is equal to $87. What is the list
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- The cost per unit of producing a product is 280 + 0.2x dollars, where x represents the number of units produced per week. If the equilibrium price determined by a competitive market is $420, how many units should the firm produce and sell each week to maximize its profit? unitsThe local weather treatment facility, a price taker, is able to supply the first gallon of water for $0.01. The second for $0.02. The third for $0.03 and so on. The current price of water is $0.06 per gallon. - choose each of the following that are correct a. Producer surplus will rise if the market price increases to $0.07 per gallon b. This water treatment facility will choose to produce seven gallons of water c. The firm will enjoy higher producer surplus if it unilaterally raises prices d. This water treatment facility will earn $0.15 in producer surplusTaiwan instrument company exports computer memory chips in Japan & United States. Demand & cost functions in the two markets is given below Japan: P= 14-Q United States: P= 8-Q C= 5 + 2(Q+ Q) Find out output, profit, price level and show its graphical presentation.
- The Ford F-150 (best selling vehicle in the U.S. for the last three decades) is currently priced at about $40, 000 to $45, 000. Show what would likely happen to the amount of vehicles offered for sale if the vehicle price went up to $52, 000.The market demand for a type of carpet has been estimated as P= 75 – 1.5Q Where P is price ($/yard) and Q is output per time period ( thousands of yards per month). The market supply is expressed as P= 25 + 0.5 Q. a typical competitive firm that markets this type of carpet has a marginal cost of production of MC= 2.5 + 10q Determine the market equilibrium price for this type of carpet. Also determine the production rate in the market, Determine how much the typical firm will produce per week at the equilibrium price. If all firms had the same cost structure, how many firms would compete at the equilibrium price computed in (a) above?What is the current market size and growth potential of the South African chrome market?
- Firms possessing resources or skills not available to competing firms may attempt to exploit it internationally. This is called: a. Use foreign raw materials b. Fully benefit from economies of scale c. React to trade restrictions d. Exploit monopolistic advantagesA firm sells a good to both UK and EU customers. The demand function is the same for both markets and is given by 20Pi + Qi = 5000 where the subscript, i, takes the values 1 and 2 corresponding to the UK and EU, respectively. Although the variable and fixed costs are the same for each market, the EU now charges a fixed tariff of $50 per unit, so the joint total cost function is TC = 40Q1 + 90Q2 + 2000 Find the maximum total profitIf the marginal cost to make a good is $181 and the price elasticity of demand is -8, what price should be charged via the optimal markup rule? Enter as a value (round to two decimal places if necessary).
- Answer b and c Road Runner Co is a Pakistani manufacturer making Bicycles. It exports to two markets,Bangladesh and Sri Lanka. Demand for Bicycles in thesetwo markets is given by the following Functions: Bangladesh Q1 = 12 – P1 Sri Lanka Q2 = 8 – P2 Where Q1 and Q2 are respective quantities sold (in thousands) andP1 and P2 are the respective prices (in Pak. Rupees per unit) in the two markets. Total cost function is C = 5 + 2 (Q1+ Q2) a. Determine the company’s total profit function. Also, (i) What are the profit maximizing levels of price and output for the two markets? (ii) Calculate the marginal revenues in each market. b. Now consider two cases: (i) Company is effectively able to price discriminate in thetwo markets. What will be the total profits? (ii) Suppose the company does not engage in price discrimination. By charging thesameprice in the two markets what are the profit maximizing levels of price,output, and the total profits? c. Analyze,…A large share of the world supply of diamonds comes from Russia and South Africa. Suppose that the marginal cost of mining diamonds is constant at $3,000 per diamond, and the demand for diamonds is described by the following schedule: Price Quantity (Dollars) (Diamonds) 8,000 3,000 7,000 4,000 6,000 5,000 5,000 6,000 4,000 7,000 3,000 8,000 2,000 9,000 1,000 10,000 If there were many suppliers of diamonds, the price would be______ per diamond and the quantity sold would be _______ diamonds. If there were only one supplier of diamonds, the price would be ______ per diamond and the quantity sold would be ______ diamonds. Suppose Russia and South Africa form a cartel. In this case, the price would be _____ per diamond and the total quantity sold would be _____ diamonds. If the countries split the market evenly, South Africa would produce _____ diamonds and earn a profit of _____ . If South Africa increased its production by 1,000 diamonds…Which of the following is an international price discrimination in which an exporter firm sells a portion of itsoutput in a foreign market at a very low price and the remaining output at a high price in the home market? Dumping Trade Barrier None of the above Tariff Barier