Microsoft is the only business that sells Computer Operation System in the world. Assuming that Microsoft is maximizing its profit, which of the following statements is true? Select one: a. Microsoft prices will be less than marginal cost b. Microsoft prices will be higher than marginal cost c. Microsoft prices will equal marginal cost. d. Microsoft prices will be a function of supply and demand and will therefore oscillate around marginal costs.

Q: Why might a service business be more selective than a goods-producingbusiness regarding the…

A: Supply is the relationship between the price of a commodity and the the goods and services to be…

Q: Good Grapes is selling grapes in a purely competitive market. Its output is 5,000 pounds, which it…

A: The pure competition consists of a large number of buyers and sellers, having homogeneous products…

Q: beer at the same price per can to all customers. The following graph shows the marginal cost (MC),…

A: A monopoly is a sole producer selling a good thus having maximum market power thus acting as a price…

Q: The following graph shows the market demand for copper. Use the orange points (square symbol) to…

A: 6. Table-1 shows the quantity supply of the firm 20, 30 and 40 based on the given marginal cost…

Q: Why does a Starbucks coffeehouse face a downward–sloping demand curve while a dairy farmer has a…

A: Starbucks is working in a monopolistic market as it is a developed brand. Starbucks is preferred by…

Q: The marketing department of a business has determined that the demand for a product can be modeled…

A: Demand, p=2000−10xx = 2000 - P10x = 200 - 0.1P TR = PQ                     .....Q=xTR = (2000 -…

Q: Jim's Camera shop sells two high-end cameras, the Sky Eagle and Horizon. The demands and selling…

A: Revenue is the total income that is derived from the normal operations and activities of a company.

Q: In a perfectly competitive market, industry demand is given by Q = 1000 – 20P. The typical firm’s…

A: In a perfectly competitive market, industry demand is given by Q = 1000 – 20P. The typical firm’s…

Q: Two firms, the Alliance Company and the Bangor Corporation, produce vision systems. The demand curve…

A: Solution-  Dear student Thank you for submitting your question . since we only answer up to threesub…

Q: For each of the following, is the business a price-taking producer? Explain your answers. a.     A…

A: Perfect or pure competition is a theoretical market structure wherein: There are many buyers and…

Q: The Ford F-150 (best selling vehicle in the U.S. for the last three decades) is currently priced at…

A: Here, it is given that the United States has the Ford F-150 as the best-selling vehicle for the 3…

Q: plain Marketing environment (micro and macro) that affect the OMAN LNG company's product / services?

A: In Marketing environment forces are very important for the successful establishment of the product…

Q: Music and melody , an independent store acquires instruments and other music equipment form…

A: A market is a place where the buyers and sellers interact with each other and the exchange of goods…

Q: Suppose that BMW can produce any quantity of cars at a constant marginal cost equal to $20,000 and a…

A: Profit maximizing level of output is at the point where marginal cost (MC) equals marginal revenue…

Q: Given the current market conditions, list and explain ONE strategy that dairy producers could…

A: Revenue is the amount of money that firm receives when it sells goods and services to consumers.

Q: It can be argued that ‘a sustained increase in the prices of a product and profitability of…

A: The market is a place where the buyers and sellers interacts with each other and the exchange of…

Q: Suppose that the market for pizzas in your town is perfectly (or purely) competitive, with a market…

A: Given: The market price of pizza=$14 Price ceiling=$8 To find: Marginal cost, Average total cost,…

Q: Coldwater Bicycle Company operates its factories at capacity and holds a dominant market position in…

A: (Since you have asked many questions, we will solve the first one for you. If you want any specific…

Q: Assuming a linear demand curve, a firm that wants to maximize its revenue will charge a lower price…

A: Answer: A linear demand curve is a straight line curve (either downward sloping or horizontal) that…

Q: Using the information in the table above, complete the following supply schedule for a company in…

A: Cost analysis is important concept of microeconomics, and very essential in modern business world

Q: 7. Short-run supply and long-run equilibrium Consider the competitive market for titanium. Assume…

A: The marginal cost (MC) curve is cut the minimum point of average variable cost (AVC). AVC is the…

Q: The following diagram shows the market demand for titanium. Use the orange points (square symbol) to…

A: The supply curve represents the range of quantities that a producer is willing to provide to the…

Q: Assume that the tuna fishing industry is perfectly competitive.  Which of the following best…

A: perfect competition is a market structure where all the firms are selling an identical or…

Q: In view of the profits being made, more firms will want to get into Frisbee production.  In the long…

A: Long-run equilibrium is where marginal cost equals average cost equals price. Total number of firms…

Q: The market position of Easy-Freeze Dinners shows that competition is heavy, though marginal…

A: Here, it is given that the market of Easy-Freeze Dinner is highly competitive, but some or marginal…

Q: Your company produces a unique style of sandals. The table shows price/quantity combinations from…

A: Given information Marginal and average cost =10 per pair Marginal and average cost for distribution…

Q: China is making money by being a global leader in solar cell production. Which of these explains why…

A: Solar power is said to be the fastest growing industries in the world. China is a dominant player…

Q: Explain why the following might be true: A droughtaround the world raises the total revenue…

A: Changes in technology, input prices and for agricultural commodities weather conditions would shift…

Q: How would you characterize the nature of competition among small food companies? Are there…

A: Answer- Need to find- How would you characterize the nature of competition among small food…

Q: Amazon May be Sprinting into Athletic Apparel People increasingly wear their workout clothes outside…

A: When Amazon enters the market of athletic clothing than it attracts the many existing customers of…

Q: Complete the following table and identify the profit maximising and output. b. What is true about…

A: Total Revenue = Price X Quantity Marginal Revenue = Change in total revenue when an additional…

Q: Current tuition at Benedict College is around $24, 000 a year. Show what would likely happen to…

A: Law of demand states that price and quantity demanded have inverse relation. Law of supply states…

Q: The following diagram shows the market demand for titanium. Use the orange points (square symbol) to…

A: We are using market equilibrium concept in the long run to answer this question.

Q: The inverse demand for organic dog food is given by P1 = 24 - 2Q1, and %3D the inverse demand for…

A: As given inverse demand function of organic dog food is P1 = 24 -2Q1 demand for conventional dog…

Q: U.S. pharmaceutical companies charge different prices for prescription drugs to buyers in different…

A: Many companies, to maximize their profits and to increase their market share, charge different…

Q: Agatha's Inc. is about to introduce a new product in the market, but is not sure as to how it should…

A: Pricing is decided by different factors, but among them the biggest factor is competition. Unless…

Q: Flag 1. A company faces TC = y2 + 12 and market demand y = 24 – p. a) What is the firm’s profit?,…

A: The total cost function consists of the fixed cost as well as the variable cost. The marginal cost…

Q: There are several pen manufacturers in Corinthia. However, the pens sold by each manufacturer have a…

A: Demand is the total quantity of products and services for which the customers are ready to pay…

Q: Suppose, in a small city, a large share of the supply of COVID vaccine comes from USA and UK.…

A: Here MC=$2 per vaccine Price(P) Quantity(Q) Total Revenue(TR) Average Revenue(AR)= TRQ change in…

Q: Suppose a firm faces a demand curve for its product P=a-bQ, and the firm's cost of production and…

A: Given: The demand curve for the product is: P = a-bQ The firm's costs of production and marketing…

Q: Suppose you own shares in a stock index fund that tracks the value of the S&P 500.  The firm that…

A: Capital markets are places where profits and savings are channeled to those in need, amongst…

Q: Use the following table for questions 7-10 Carving knives Home users Professional Chefs No-name…

A: Here, the given table shows the price of two products for two different types of chefs that the…

Q: Most smartphones in the United States use Apple's IOS or Google's Android operating system. What…

A: Duopoly: - Duopoly market is a market in which there are only two sellers of a product in the…

Q: In “Hot Dog Hail Mary,” they discuss how the original model served low-quality food at high prices.…

A: Demand is an economic concept that helps in understanding the quantity demanded by the people in…

Q: pricing. Resale Price Predatory Pricing Scenario Tying Maintenance Coolaire is the only firm…

A: Scenario 1: Predatory pricing: In this, Coolarie sets its price too low i.e. $550. The cost of…

Q: Two firms produce Bliffs. They compete by simultaneously choosing prices in a single period. The…

A: Monopoly is a market where by a single supplier dominates the whole market and duopoly is a market…