A capability that is easy to imitate may provide a sustained competitive advantage if: Group of answer choices 1.It can easily be put to use in a variety of settings 2. It can easily be increased in scale 3. It is more valuable in conjunction with rare complementary assets held by the firm 4. It is more valuable in conjunction with rare complementary assets held by another firm..

A capability that is easy to imitate may provide a sustained competitive advantage if: Group of answer choices 1.It can easily be put to use in a variety of settings 2. It can easily be increased in scale 3. It is more valuable in conjunction with rare complementary assets held by the firm 4. It is more valuable in conjunction with rare complementary assets held by another firm..

Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)

14th Edition

ISBN:9781305506381

Author:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Publisher:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Chapter10: Prices, Output, And Strategy: Pure And Monopolistic Competition

Section: Chapter Questions

Problem 1E

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Peter runs a small local newspaper company. He can sell a newspaper at $2. He has fixed costs of $10,000. His variable costs are $1,500 for the first thousand newspapers, $1000 for the second thousand, and then $600 for each additional thousand newspaper.Can he make profit at current market price? What is the breakeven price in this business (assuming maximum production at 10,000 newspaper)?
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Each firm in a perfectly competetive market has a long-run total cost of LRTC = 100g – 10q + 100. The market demand is Q* = 2150 – 5P. At the long-run equilibrium price, how many firms will there be in the market? (а) 500 (b) 1,000 (c) 1,200 (d) 2,000 (e) 2,400
The period of time long enough to allow a firm to vary all of its inputs, to adopt new technology, and to increase or decrease the size of its physical plant is considered the Group of answer choices immediate run. short run. long run. market opening. cannot be determined with the given information. Give typing answer with explanation and conclusion
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You own a business that operates in perfect competition, and the market price of the product is $15 per unit. Q is the number of units for production. Your costs of production are shown below. The time period is fixed at one month All revenues and costs are calculated at the monthly rate. A. determine the number of units that you will select. Justify and support your answer using the information on this problem. Select only whole numbers of Q B. calculate the profit that will be earned in Part A. Q FC VC MC TC AFC AVC ATC 0 $40.00 $0.00 xxx $40.00 xxx xxx xxx 1 $40.00 $30.00 $30.00 $70.00 $40.00 $30.00 $70.00 2 $40.00 $44.00 $14.00 $84.00 $20.00 $22.00 $42.00 3 $40.00 $60.00 $16.00 $100.00 $13.33 $20.00 $33.33 4 $40.00 $80.00 $20.00 $120.00 $10.00 $20.00 $30.00 5 $40.00 $110.00 $30.00 $150.00 $8.00 $22.00 $30.00 6 $40.00…
If a purely competitive firm is facing a situation where the price of its product is lower than the average cost, then all of the following apply, except Multiple Choice A) the firm is suffering losses, and if things are not expected to improve, the firm will leave the industry. B) the firm may be earning some accounting profits, but less than what it could earn elsewhere. C) other firms will want to enter the industry because of the positive economic profits. D) the firm may earn economic profits in the long run if it expands its plant in order to exploit economies of scale.
When there are economies of scope between two products which are separately produced by two firms, merging into a single firm can: 1) accomplish a reduction in costs. 2) lead to an increase in cost. 3) lead to a reduction in sales. 4) accomplish an increase in sales.
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True/ False Perfect competition produce a homogeneous product which have a good knowledge among the buyers and sellers.
An upstream firm (U) sells an input to a downstream firm (D) which resells it to consumers. The marginal cost of U is 4. Each unit is sold by U to D at a transfer price r. Requirement final is p = 12 - y. a) Suppose U and D are separate firms. Find r, y and p. b) Suppose U and D are one integrated firm. Find p and y. c) Suppose the firms are not integrated, but firm U uses a two-part tariff: it requires payment of r for each unit sold to D; in addition, it requires payment lump sum of T. Find the value of r that U will choose. Find the minimum and maximum values by T. d) Suppose the firms are not integrated, but U imposes a resale price control on firm D. Find the value of r that U will choose, and the constraint that it will impose on the price final p