When the announcement was made in January about the availability of Starlink in Nigeria, which of the following occurred in the market for internet connectivity?
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When the announcement was made in January about the availability of Starlink in Nigeria, which
of the following occurred in the market for internet connectivity?
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- If A New Breakthrough in Manufacturing technology reduces the cost of producing Blu-ray Players By Half what Will Happen to supply of blu-ray playersViking Publishing House observed that in the recent years books on nature conservation and climate change have been very popular. As a matter of fact, Jane Goodall's latest book, "The Book of Hope: A Survival Guide for an Endangered Planet" has been a best-seller and Viking estimates the following demand curve for the book: P = 150 - Q In this equation, P is the price of the book and Q denotes yearly sales in thousands 20,000 books would be expressed as Q = 20 books. In other words, Viking estimates that it incurs a cost of $40 for printing and shipping of each book and pays a $10 royalty to Jane Goodall for each book sold. a. Calculate the profit maximizing OUTPUT and PRICE for this book. Also, calculate the TOTAL PROFITS.Drill Quest, Inc. manufactures drill bits for the oil industry. Drill Quest uses cost-plus pricing to set the price of its bits. Currently Drill Quest applies a 50 percent markup on average total cost. Average variable cost of producing bits is constant and equal to $6,000 per bit. Total fixed cost at Drill Quest is $550,000. DrillQuest currently produces 690 bits. Statistical estimation of demand for Drill Quest brand bits produces the following linear demand equation (where Q is the number of bits demanded and P is the price of bits): Q = 1,200 − 0.05P Use the MR = SMC approach to finding the profit-maximizing point on the demand for Drill Quest’s bits. The profit-maximizing price to charge is $___________ per bit. Multiple Choice $15,000 $12,500 $10,378 $10,245 $10,000
- The marginal cost pricing model calculates a markup over marginal costs using estimates of the price elasticity of demand. Will any other pricing strategy result in higher profits?S&S Manufacturing Co. supplies automotive parts in three outlets in Selangor. The inverse demand equations faced by each outlet are as follows: Outlet 1: P = 150 – 2.50 Q1 Outlet 2: P = 200 – 8.40 Q2 Outlet 3: P = 450 – 0.75 Q3 a. If the firm charges RM100 per unit, determine the quantity demanded by each outlet. b. Given the price, compute the own price elasticity for each outlet and identify which outlet is the most responsive to price change. Why? c. If S&S Manufacturing Co. plans to increase the price by 10 percent, do you think the Company is making a right decision? Explain your answer.The market research department of the Better Baby Buggy Co. predicts that the demand equation for its buggies is given by q = −2.5p + 500 where q is the number of buggies it can sell in a month if the price is $p per buggy. At what price (in dollars) should it sell the buggies to get the largest revenue? p = $
- What price should you set for a product? This week we’re learning a useful numerical rule. You’re brought in to consult for a business that currently has a Marginal Cost of $5 for its product. It sells its product to customers for $9 per unit and the estimated price elasticity of demand is -1.5. Is the current price optimal? Should it be raised or lowered? To what? Support your answer using the markup pricing equations from the text. (MR = P*(1+(1/elasticity)) combined with the MR=MC rule).You are a division manager at Honda. If your data analytics department estimates that the semiannual demand for the Pilot is Q = 350,000 −1.6P, what price should you charge in order to maximize revenues from sales of the Pilot?the demand function for Netflixis ()(pD), where (p) is the price in dollars. For their “Basic” plan, Netflixcurrently charges ($9)per month, and it plans to raise the price to increase revenues:
- Ethanol and sugar are both made from sugarcane, and ethanol can be used as a fuel substitute for oil. Increasing oil prices cause the demand for ethanol to increase. This will cause the ______ sugar to ______ and its price to ______. demand for; increase; increase supply of; decrease; increase demand for; decrease; decrease supply of; increase; increase1.) GM’s Food Shops has completed a study of weekly demand for its “new-fashioned” tacos in 53 regional markets. The study revealed that where Q is the number of tacos sold per store per week, A is the level of local advertising expenditure, Pop denotes the local population (in thousands), and Pr is the average taco price of local competitors. For the typical GM’s outlet, P = P1.50, A = P1,000, Pop = 40, and Pr = P1. Q = 400 - 1,200P + 0.8A + 55Pop + 800Pr Estimate the weekly sales for the typical GM’s outlet. Determine the equilibrium price and equilibrium quantity, if supply is Qs = 700 + 1,200P considering the general demand function of GM’s outlet Should GM raise its taco prices? Why or why not?A manufacturing business can supply 60 plasma TV sets per month at a price of $280 per set, or sell 140 plasma TV sets if the price is $370 per set. A group of retailers will buy 80 plasma TV’s if the price is $350 per pair and 120 plasma TV’s if the price is $300 per set. Given that the demand and supply functions must be linear: Find the linear equations representing both demand and supply Find the point of market equilibrium (number of TVs: q) and the price per unit (p) at that point.