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- 5. (a) Assume that two firms A and B are in different industries (like computer software and computer hardware). What impact will a merger between these two firms have on the number of firms in each industry after the merger? Please give an explanation. (b) Current automobile companies are facing a shortage of computers chips used in cars to run various parts of the car, and therefore supply of cars has decreased since a necessary part(s) is not available. If an auto company like General Motors (GM) decided to buy a chip manufacturing company to ensure that it did not face a chip shortage in the future, would such a purchase lead to more concentration in either the auto industry or the chip-manufacturing industry? Please give an explanationexplanation.32. The seasonal indices of the sales of garments of a particular type in a certain shop are given below: Quarter Seasonal index Oct.-Dec. Apr.-June 85 July-Sept. 83 Jan.-March 97 135 If the total sales in the first quarter of a year be worth $15,000 and sales are expected to rise by 4% in each quarter, determine how much worth of garments of this type be kept in stock by the shop-owner to meet the demand for each of three quarters of the year.15. (15 points) Suppose that the values of y are generated by the following equation: ŷ=a+Bx+e Where a and ẞ are unknown parameters and e is the random error. The table below gives the observed values of y and x for a sample of size 4. obs y x y น 2 1 24 24 10 10 1 6 9 = +Bxte 28-3+8+(0.5) 25 25 S 3 4 5 28 -8 7 -1 Consider the regression estimates of the unknown parameters a and ẞ: a 3 β 5 Fill in the missing values in the table. Calculate the sum of squared residuals and write it below. SSR =
- SHOW FORMULAS ON EXCEL PLEASE STEP BY STEPinterpret the relationship of both elasticities from each other11:52 mm < Vol) 4G LTE 2.1 77% Assessme....c2b3e72 Tages UNISA ECS1501 - Assessment 5. Question 1 (12 marks) Maximum word count: 100 words Giant, the world's leading brand of high-quality bicycles and cycling gear, announced that their pre-tax profit has decreased by almost 50% while their sales were down by approximately 16%. Watch the following excerpt from The Wild Ones Podcast Ep.41produced by Cade Media (attached below) and answer the following questions. (i) Which of the presenters best describes the market condition that Giant Bicycles faces and explain why you agree with him or her? (ii) Draw a diagram of the bicycle market that illustrates the market conditions discussed in the podcast. (I) Explain the adjustment process to the new equilibrium position in the bicycle market. Question 2 (5 marks) No words allowed, only a diagram with annotations To answer this question only a diagram with annotations is required. Suppose beer and peanuts are complements. In anticipation of warm…
- MOER The table below shows how supply and demand Price ($/gal) Demand (million of gal.) 1 1.2 790 700 1.4 640 1.6 580 1.95 497 2.2 450 2.4 430 2.6 420 2.8 390 3 360 Note: there is some randomization in the above data to account for price fluctuations. Make sure to check that you input the correct data in your device. Perform the following work • Assume that Supply has a quadratic relationship with the price. Find this relationship (the help buttons contain an article to compute trend-lines in Excel): -21.935p² + 207.365p+339.085 Round your answer to 3 decimal places S(p) ● D(p): = 1.53 • Assume that the Demand has a quadratic relationship with the price. Find this relationship (the help button links to an article to compute trend-lines in Excel): 85.561p² - 543.789p + 1236.729 Round your answer to 3 decimal places Video Solve | Sn... of gasoliine vary depending on the price: Supply (million of gal.) 511 550 600 641 660 680 700 720 735 786 605 - • Use the trendlines to find the price…4. A factory produces a certain type of outputs by three types of machine. The respective daily production figures are : Machine I : 3,000 Units; Machine II : 2,500 Units; Machine III: 4,500 Units Past experience shows that 1 per cent of the output produced by Machine I is defective. The corresponding fraction of defectives for the other two machines are 1-2 per-cent and 2 per- cent respectively. An item is drawwn at random from the day's production run and is found to be defective. What is probability that it comes from the output of (i) Machine I, (ii) Machine II, (iii) Machine (iii) ?2. Superior Metals Company has seen its sales volume decline over the last few years as the result of fising foreign imports. In order to increase sales and hopefully, profits), the firm is considering a price reduction on uranium-a metal that it produces and sells. The firm currently sells 60.000 pounds of uranium a year at an average price of $10 per pound. Fixed costs of producing uranium are $250,000. Current variable costs per pound are $5. The firm has determined that the variable cost per pound could be reduced by $.50 if production volume could be increased by 10 percent (fixed costs would remain constant). The firm' marketing department has estimated the arc elasticity of demand for uranium to be - 1.5. (a) How much would Superior Metals have to reduce the price of uranium in order to achieve a 10 percent increase in the quantity sold? (b) What would the firm's (i) total revenue, (ii) total cost, and (ii) total profit be before and after the price cut? 8 - 60000
