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- Give explanation whether the statement is true or fals e don't upload any graph for explanation please and get like. Hand written solutions are strictly prohibited.Explain how Lynk&co use the content of there website to indicate their value proposition to cusHow does the company set its goods or services apartfrom those of its competitors? Does the company compete on price, quality, service, innovation, or some otherattribute?
- Imagine that you own your business. It does not need to be the same as in other questions, youare allowed to pick a different firm or product.a.Think about your production process. Please explain the technology that youuse in the production process.b.How do you think the technology that you use, affects the market structureand/or the demand of your product? Note that this question is NOT about howtechnology affects your production process, therefore, NOT about productivity, NOTabout the cost structure.Give atleast short definition about the statement of the problem given below.does the market( unregulated and competitive) for cigarettes suffer from a market failure? if so,suggest an economic tool to deal with it.Expalin your answers briefly . Only text
- during the energy crisis in the mid-1970s, a politician remarked , "Excesssively high profit do not indicate that the major oil companies are responsive to custmers. It means they are gouging public" how would you respond to this attack?The accompanying table shows a car manufacturer’s total cost of producing cars.a) What is thismanufacturer’s fixed cost?b) For each level of output, calculate the variable cost (VC). For each level of outputexcept zero output, calculate the average variable cost (AVC), average total cost(ATC), and average fixed cost (AFC). What is the minimum-cost output?c) For each level of output, calculate this manufacturer’s marginal cost (MC).d) On one diagram, draw the manufacturer’s AVC, ATC, and MC curves.2. Labor costs represent a large percentage of total costs for many firms. According to data fromthe Bureau of Labor Statistics, U.S. labor costs were up 2.0% in 2019, compared to 2018.a) When labor costs increase, what happens to average total cost and marginal cost?Consider a case in which labor costs are only variable costs and a case in which theyare both variable and fixed costs.An increase in labor productivity means each worker can produce more output. Recent data onproductivity show…a) How can a firm determine the best level of output and price for products that are jointly produced in fixed proportions?
- The accompanying table presents the expected cost and revenuedata for the Tucker Tomato Farm. The Tuckers produce tomatoesin a greenhouse and sell them wholesale in a price-taker market.a. Fill in the firm’s marginal cost, average variable cost,average total cost, and profit schedules.b. If the Tuckers are profit maximizers, how many tomatoesshould they produce when the market price is $500 perton? Indicate their profits.c. Indicate the firm’s output level and maximum profit if themarket price of tomatoes increases to $550 per ton.d. How many units would the Tucker Tomato Farm produce ifthe price of tomatoes fell to $450 per ton? What would bethe firm’s profits? Should the firm stay in business? Explain.Try to classify the following firms into one of the four market strucutre models. Explain your choice. a) Rowena's gourmet foods (produces and sells a line of speciality foods) b) Shasta Pools and Spas (swimming pool and spa building ) c) Merck (Pharmaceuticals) d) US Airways e) UDC Homes (builders) f) Legal Sea Foods (restaurant chain)You own a printing firm. Two of yoursenior managers provide you with advice. Thefirst manager states that your company islosing money for every unit that is printed. Tominimize losses, she advises that you reduceyour production levels. The second managerstates that if your firm sells some more units,the price will cover your increase in costs. Inorder to reduce losses, the second managerrecommends that you should increaseproduction. Explain which manager iscorrect and who is offering the correctadvice?