1) Choose and Provide an introduction of the firm 2) Analyze the market structure at which it operates with diagrams and analytical applications 3) Distinguish between short and long-run scenarios.
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1) Choose and Provide an introduction of the firm 2) Analyze the market structure at which it operates with diagrams and analytical applications 3) Distinguish between short and long-run scenarios.
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- PART C: MARKET ANALYSIS Pacesetter is a manufacturer of three-ring binders operating in a perfectly competitive industry. The Table below shows the firm's cost and revenue schedule Quantity (cases) Variable Cost Total Cost Marginal Cost Average Variable Cost Average Total Cost Total Revenue Profit (or Loss) 0 $0 $76 1 30 106 $40 2 50 3 134 4 140 5 160 6 114 7 150 8 190 9 316 PART C: MARKET ANALYSIS (i) Complete the Table above by filling in the blank cells. (ii) Based on the above Table, Pacesetter’s profit maximizing or loss minimizing level of output is __________; and the (profit is _________) or (loss is __________) (iii) Should the firm continue to…The following determine industry structure except A. The number of firms in an industry B. Conditions of entry C. Product differentiation D. Taste and PreferenceUse the following graphs for questions 22 and 23. At what price would a firm exit the market? (a) Relationship of total cost to total variable cost and total fixed cost (b) Relationship of marginal cost to average total cost, average variable cost, and average fixed cost Total Costs (dollars) 700 Cost 150 Per 140 TC Unit 130 TVC (dollars) 120 MC 600 110 100 500 90 80 400 70 60 ATC 300 TFC 50 AVC 40 AFC 200 30 20 TFC 100 10 AFC 0 1 2 3 4 5 6 7 8 9 10 11 12 0 1 2 3 4 5 6 7 8 9 10 11 12 Quantity of Output Quantity of Output (units per hour) (units per hour) O $20 O $30 $45 $50
- describe the types of market structure that exist in the tourism industry of Cyprus. Only Typing AnswerThere are 38 nearly identical ABC stores within a one-mile radius in Waikiki. The combined size of these 38 stores allows ABC to offer large quantities at favorable prices. a. ABC gained market power through economies of scale government protection control of an important input . b. ABC’s market power does does not guarantee that the firm makes an economic profit.Name the market structure in which the firms sell products that are similar but not identical
- Please answer all 1. Coldwater Bicycle Company operates its factories at capacity and holds a dominant market position in its home country. When it receives a premium priced order from a new customer in another country, it must decide whether to fill that order or continue to supply the full demand in its home market. When it decided not to completely fill the new order, it incurred Group of answer choices a. Sunk costs b. Average costs c. Opportunity costs d. Marginal costs 2. What might happen if a car dealership is awarded a bonus by the manufacturer for selling a certain number of its cars monthly, but the dealership is just short of that quota near the end of the month? Group of answer choices a. Potential buyers will lose buying power at the dealer b. It may sell the remaining cars at huge discounts to hit the quota c. It creates an incentive to sell cars from different manufacturers d. It would ruin the relationship between dealer and manufacturer…What type of market competitive environment Amazon operates in?A pharmaceutical asking for patent right for producing one important medicine, considering market structure, price setting objective and profit maximizing condition, should private company allow to produce necessary product like medicine? Use diagram.
- File 20 19 Home 23 24 25 Insert Calibri 26 X ✓ fx 27 28 29 Draw Page Layout く 11 A B C D G H Question 3: Profit Maximization for a Perfectly Competitive Firm (Parts a - g) E Answers: B TR =P*Q MR = change in TR/ change in Q MC = change in TC/ change in Q Profit= TR - TC Profit is max at Q, such that MR = MC. Parts (a) - (c): P Q Formulas F TR Data SV You will complete the rest of table as specified in the following parts of this assignment. b) Use Excel functions to calculate TC = 20 + 10*Q + 2*Q² and MC. Verify that MC = 10 + 4*Q. 1 c) Use Excel functions to calculate Profit = TR - TC. 2 d) Use the MAX function in Excel to find the highest profit this perfectly competitive firm can earn. 3 What is the profit-maximizing output? Verify that it satisfies the condition MR = MC. 4 5 6 MR Av... Review TC I e) Use the MIN function in Excel to find the break-even price of this company. f) Re-do the table you created in the previous parts if FC increases to $30. Compare the highest profit this…What is meant by economy of scope and how does Starbucks use it?Music and melody , an independent store acquires instruments and other music equipment form producers and wholesales and sells them to consumers , music and melody is a ? A)manufacturer B)direct sales company C)wholesaler D)direct marketing company E)retailer
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