CHAPTER 9 OLIGOPOLY AND FIRM ARCHITECTURE 1. The demand function for a product sold by an oligopolist is given below: QD = 370 – P The firm’s marginal cost function is given below: MC = 10 + 4Q Calculate the equilibrium price and quantity. Solution: P = 370 – Q so TR = 370Q – Q2 and MR = 370 – 2Q MR = 370 – 2Q = 10 + 4Q = MC so Q = 60 and P = 310 2. The demand function for a product sold by an oligopolist is given below: QD = 135 – 0.5P The firm’s marginal cost function is given
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profit‚ Company A uses these methods to determine the appropriate output level to achieve their goal. Both methods arrive at the same level. In the first approach‚ Company A first determines its total revenue by multiplying the number of widgets sold by the price of the widget. Next it determines its total cost which comprises of the sum of all costs including fixed and variable costs. Company A’s profit is then calculated by total revenue minus total cost. However‚ in an effort to maximize
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developed countries. Used car market also was developed because it was cheap to buy a car abroad with a little customs tariffs in our country. So most of people preferred to have a used foreign car rather than a new car produced in Kazakhstan ‚ it is might be because of quality of own produced cars and there are not so many choices. But after the crisis the car market rapidly declined approximately 30-40 %. The biggest factor of the recession‚ is a significant rise in the cost of loans by Kazakhstan banks
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Plan C 5 6 7 7 7 8 4 7 9 5 5 8 4 6 9 2. Three assembly lines are used to produce a certain component for an airliner. To examine the production rate‚ a random sample of six hourly periods is chosen for each assembly line and the number of components produced during these periods for each line is recorded. The output from a statistical software package is: Summary Groups Count Sum Average Variance LineA 6 250 41.66667 0.266667 LineB 6 260 43.33333 0.666667 LineC 6 249 41.5 0.7 ANOVA Source of Variation
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Assignment: Earthquakes Diamonds University of Phoenix September 25‚ 2011 Diamonds As the famed saying goes‚ “Diamonds are a girl’s best friend”. Not only are diamonds a girls friend but also industries friend as well. Diamonds are formed approximately 100 miles below the surface. Diamonds are a crystalline form of carbon. Carbon is crystallized in super heat and pressure in the boiling magma. Even apart from its rarity and value‚ diamond is a remarkable mineral (Murck‚ B. W.‚ Skinner
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Defining Capitalism and Command Economies of Economics “Economics is the study of how wealth is created and distributed” which‚ includes “the products produced and sold by business” (Pride‚ Hughes‚ & Kapoor‚ 2011‚ p. 10). When studied‚ it is the science or the financial considerations of the buying‚ selling‚ and the production of goods and services that are consumed by our world and its people. There are two different perspectives when studying economics. Microeconomics and macroeconomics
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(1) Finished Goods Inventory XXX Work in Process Inventory XXX To record transfer of cost of completed goods to the Finished Goods Inventory account. (2) Cost of Goods Sold XXX Finished Goods Inventory XXX To record cost of goods sold. Ex. 17–3 a. $3‚150 ($900 + $2‚250 = jobs no. 103 and 104) b. $7‚440 ($4‚200 + $3‚240 = jobs no. 101 and 102) c. $13‚690 ($4‚200 + $3‚240 + $6‚250 = jobs no. 101‚ 102‚ and 104) d. $9‚700
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Chocolate Research Paper The first recorded evidence of chocolate as a food product goes back to Pre-Columbian Mexico. The Mayans and Aztecs were known to make a drink called "Xocoatll” from the beans of the cocoa tree. The Ancients believed that chocolate was the food of the gods. Aztec and Mayan kings drank cups of warm chocolate on a regular basis‚ and the magical cacao bean was so valued that the used it for currency. In 1528‚ the conquering Spaniards returned to Spain with chocolate
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year and he wondered what strategy and tactics would maximize his profits. The initiative for WLC evolved from Monroe’s canoeing and woodworking hobbies. Monroe had canoed recreationally for more than 20 years and had built three canoes‚ which he sold after using them each for a season. Last spring‚ when Monroe decided to purchase a canoe for the first time‚ he suffered what he described as “sticker shock.” He could not believe the price and poor quality of retail canoes. Monroe saw an opportunity
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Business strategy game | Extreme Kicks | Year 12 Report | | | | Authors: Brandon Morgado‚ Manufacturing Khalid Mahmoud‚ Finance Nick Stott‚ Marketing Michelle Poirier‚ Human Resource Administrator: Judith BirzeDecember 1‚ 2011 | Devin Noble‚ Accounting Table of Contents I Executive Summary II Finance Situation Analysis: Past financial results globally Past financial results by region Objectives Strategies III Marketing Situation Analysis: Global
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