There is only a single drug to treat Diwakar’s disease. This is an example of a Threat of substitutes, strong force b Threat of substitutes, the weak force c rivalry among existing firms, strong force d rivalry among existing firms, the weak force e rivalry among existing customers. strong force
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2______. There is only a single drug to treat Diwakar’s disease. This is an example of
a Threat of substitutes, strong force
b Threat of substitutes, the weak force
c rivalry among existing firms, strong force
d rivalry among existing firms, the weak force
e rivalry among existing customers. strong force
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- No written by hand solution Suppose that headphones can be produced at a constant marginal cost. Headphone A is priced at $20 and headphone B is priced at $30. (a) If the Lerner index of headphone A divided by the Lerner index of headphone B is 0.5, what is the marginal cost of producing headphones? (b) Using your answer to part ‘a’, what is the elasticity of demand of headphone A? What is the elasticity of demand of headphone B?Assume that a firm accepts the following price_demand relationship as being a realistic representation of its market: d=800-10p where p must be between $20 and$70 a. How many units can the firm sell at the $20 per-unit price? At the $70 per-unit price? b. By how many units does a $1 increase decrease demand? c. Which pricing alternative the business is considering maximizes revenue? Group of answer choices $40 $30 $50The Android phone market is highly competitive since there is a large number ofcompanies and potential entrants. For simplicity, assume each firm has an identical coststructure, and the cost does not change with new firms’ entry. Each firm’s long-run average costis minimized at 300 and the minimum average cost is $150 per unit. Total market demand isgiven byQ = 15,000 − 50P.a. What is the Android phone market’s long-run supply curve? b. What is the long-run equilibrium price (P∗) and total industry output (Q∗)? Howmany companies are competing in this market?c. The short-run total cost curve for each firm is given by STC = 0.5q^2 − 150q +20000, where q is the firm’s production quantity. Find the short-run marginal cost(SMC) for each firm. What is the market short-run supply curve?d. Suppose Android phone has become more popular and the market demandcurve shifts outward to Q = 20,000 − 50P. In the *short-run*, find the new equilibriumprice. What is the new equilibrium price in…
- Our class lecture covered Printers and Ink Cartridges which are Complements. We will now look at substitutes. GM produces Chevys (c) and Buicks (b). The cars are considered substitutes by consumers. Demands are Qc=100-.5Pc-.1Qb and Qb=40-.4Pb-.2Qc. The price functions are Pc=200-2Qc-.2Qb and Pb=100-2.5Qb-.5Qc. Total Revenue is TR=Pc*Qc+Pb*Qb. Total Cost is TC=2Qc+1Qb. Find the profit-maximizing price for Chevys, taking into consideration Chevys and Buicks are substitutes. The profit maximizing price of Chevys is ____.Our class lecture covered Printers and Ink Cartridges which are Complements. We will now look at substitutes. GM produces Chevys (c) and Buicks (b). The cars are considered substitutes by consumers. Demands are Qc=100-.5Pc-.1Qb and Qb=40-.4Pb-.2Qc. The price functions are Pc=200-2Qc-.2Qb and Pb=100-2.5Qb-.5Qc. Total Revenue is TR=Pc*Qc+Pb*Qb. Total Cost is TC=2Qc+1Qb. The profit maximizing amount of Chevys to produce isAssuming you are the managing director of a firm that produces three goods: A, Band C. The price elasticity of demand for A is 1.2, for B it is 1.00 and for C it is 0.75.It is known that he firm is experiencing serious cash flow problems and you have toincrease total revenue as soon as possible. If you were in a position to set the pricesfor these goods, what would be your pricing strategy for each product
- Q48' Assume that Cresco Labs is a monopolist that can sell 15 ounces of marijuana per day at $12.50 for each ounce. To sell 16 ounces of marijuana per day, the price must be cut to $12.20. The marginal revenue of the 16th ounce is Multiple Choice $12. $7.70 . $16. $-0.30. $12.20.Competition and the Invisible Hand: End of Chapter Problem Let’s take a look at Invisible Hand Property 2 in action using a mathematical example. Suppose an industry is characterized by the following equations. We’re going to assume that all individual firms are identical to make this problem a little simpler. Demand: ??=100−2?QD=100−2P Individual firm's supply: ??=0.5+0.1?qS=0.5+0.1P Market supply with n firms: ??=?×??=0.5?+0.1??QS=n×qS=0.5n+0.1nP Individual firm's average cost: ??=5??−5+24.2??AC=5qS−5+24.2qS a. Suppose 24 firms are in this industry. What is the equation for market supply? QS =Suppose you are the economic adviser ofa company producing three brands of mobile pnones;Nokia 10, Samsung X and iPhone 7. Suppose further that, your company currently sells 120units of iPhone Z at e800 per unit, 150 units of Samsung X at e800 per unit and 200 units ofNokia 10 at e100 per unit, but in a bid to maximize profit, the company's managing directorproposes an increase in price of Samsung X from e800 to e1000 per unit for which quantitydemanded is anticipated to fall from 150 to 100 units; iPhone Z from e800 to e 1200 per unitfor which quantity demanded is anticipated to fall from 120 to 100 units; and Nokia 10 from100 to 200 per unit for which quantity demanded is expected to fall from 200 to 100 unitsUsing the mid-polint formula. compute the price elasticity of demand for each brand.From your answer in i, what is the type and economic interpretatiom of each brand'sii.value of elasticity.
- Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure The burrito truck industry in the city is perfectly competitive. On any given evening, the market demand for burritos is given by Qp = 88 - P: where QD is the quantity of burritos demanded per evening, and p is the price of a burrito. Each burrito seller must pay $50 per day to rent a burrito truck. In addition, the cost of ingredients for each burrito is $3, regardless of how many burritos are sold. Given space constraints, each burrito truck is able to serve a maximum of 10 customers per evening. In a long-run equilibrium in the burrito industry, the number of sellers (burrito trucks) in the market every evening will be _____For problems 1 – 4: The Dolan Corporation, a maker of small engines, determines that in 2019 the demand curve for its product is P = 2,000 - 50Q where P is the price (in dollars) of an engine and Q is the number of engines sold per month. If managers set a price of $750, how many engines will Dolan sell per month? a.30 b.35 c. 20 d.25The Jakarta Post - Coordinating Maritime Affairs Minister Luhut Pandjaitan said he wants to push for the emergence of a new player in the jet fuel or avtur business in an effort to lower airfares. The market is currently dominated by state-owned energy company Pertamina. Previously, President Joko Widodo criticized Pertamina for “monopolizing” the avtur business that was blamed for the high price of the commodity. “Because of a monopolistic market, the price isn’t competitive. Many want to sell avtur, and it will lead to lower prices and encourage efficiency.” Jokowi said. Do you agree with the statements? ? Use a relevant graph to help explain your answer. (Hint: Use graphical analysis to compare the condition under perfect competition and monopoly markets in your answer)
