Each time a song is played on the radio, the record company and the songwriter are paid a royalty of $0.30. Of the total, 75% goes to the company and the rest to the writer. If on a network of 50 radio stations, a certain song is played 4 times a day during the first week and then 20 times a day for the next three weeks, how much does the network owe in royalties for the four weeks? How much do the record company and the songwriter receive each

Each time a song is played on the radio, the record company and the songwriter are paid a royalty of $0.30. Of the total, 75% goes to the company and the rest to the writer. If on a network of 50 radio stations, a certain song is played 4 times a day during the first week and then 20 times a day for the next three weeks, how much does the network owe in royalties for the four weeks? How much do the record company and the songwriter receive each

Managerial Economics: A Problem Solving Approach

5th Edition

ISBN:9781337106665

Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor

Publisher:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor

Chapter16: Bargaining

Section: Chapter Questions

Problem 2MC

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You work for a pharmaceutical company that has developed a new vaccine. The patenton the vaccine will last 15 years. You expect that the drug’s profits will be $2 million in itsfirst year and that the profit will grow at a rate of 5% per year for the next 15 years. Oncethe patent expires, other pharmaceutical companies will be able to produce the same drugand competition will likely reduce growth to 1% per year. a. What is the present value of the new drug if the cost of capital is 8%? b. What is the drug’s present value if competition causes the company to havenegative growth of -5% (i.e., minus 5%) after the first 15 years?
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Business group Business Unity South Africa (BUSA) has written to Transport minister Fikile Mbalula requesting he makes changes to South Africa’s regulations around the transportation of logistics containers. According to BUSA, Regulation 224 (b) of the National Road Traffic Act currently prohibits the transportation of high cube containers on South African roads. “High cube containers constitute the overwhelming majority of containers currently manufactured and transported internationally – including in neighbouring states,” it said. “However, the combined height of a vehicle transporting a high cube container is currently 4.6 metres – 300mm above the legal limit.” Despite several years of industry engaging the Department of Transport on the matter, as well as moratoriums being issued, no progress has yet been forthcoming on fundamentally resolving the issue, the group said. “This regulatory anomaly puts South Africa’s trade and logistics regime out of step with international and…
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