iscuss the impact of the following factors on the optimal method of procuring an input. (LO1, LO3) a. Benefits from specialization. b. Bureaucracy costs. c. Opportunism on either side of the transaction
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Discuss the impact of the following factors on the optimal method of procuring an input. (LO1, LO3) a. Benefits from specialization. b. Bureaucracy costs. c. Opportunism on either side of the transaction. d. Specialized investments. e. Unspecifiable events. f. Bargaining costs.
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- The main requirement for becoming a registered nurse is passing the National Council Licensure Examination for Registered Nurses. Suppose that nurses from Canada were allowed to take this exam and seek jobs of travelling nurses in the US. As a result of that, the number of travelling nurses increased by 3% and the weekly pay of the travelling nurse went down from $5,200 to $4,800. If early vaccination results in additional 10% increase in the number of travelling nurses in December, how much will the weekly pay of travelling nurses change because of that?From a business practitioner perspective, the true role and value of of the marketing department is that good marketers tend to discover the unmet needs of the firm's targeted consumer segments, and then, disseminate that information across all firm departments. So marketing oriented firms are those that take this information and then use it to develop various marketing mixes (of goods and services) that the firm then markets to it's various target segment (in that hope that each 4-P mix will satisfy their target segment needs). A True FalseProblem A-4 The Economists' Approach to Pricing [LOA-1] The postal service of St. Vincent, an island in the West Indies, obtains a significant portion of its revenues from sales of special souvenir sheets to stamp collectors. The souvenir sheets usually contain several high-value St. Vincent stamps depicting a common theme, such as the life of Princess Diana. The souvenir sheets are designed and printed for the postal service by Imperial Printing, a stamp agency service company in the United Kingdom. The souvenir sheets cost the postal service $1.70 each. St. Vincent has been selling these souvenir sheets for $9.00 each and ordinarily sells about 50,000 units. To test the market, the postal service recently priced a new souvenir sheet at $10.00 and sales dropped to 40,000 units. Required: 1a. Calculate the contribution margin for sale price of $9.00 each or $10.00 each? $9.00 Price $10.00 Price Unit sales Sales Cost of goods sold Contribution margin 1b.Does the postal service of St.…
- You are an assistant to a senator who chairs an ad hoc committee on reforming taxes on telecommunication services. Based on your research, AT&T has spent over $15 million on related paperwork and compliance costs. Moreover, depending on the locale, telecom taxes can amount to as much as 25 percent of a consumer’s phone bill. These high tax rates on telecom services have become quite controversial, due to the fact that the deregulation of the telecom industry has led to a highly competitive market. Your best estimates indicate that, based on current tax rates, the monthly market demand for telecommunication services is given by Qd = 250 − 5P and the market supply (including taxes) is QS = 4P − 110 (both in millions), where P is the monthly price of the telecommunication services.The senator is considering tax reform that would dramatically cut tax rates, leading to a supply function under the new tax policy of QS = 4.171P − 110. How much money per unit would a typical consumer save…You are an assistant to a senator who chairs an ad hoc committee on reforming taxes on telecommunication services. Based on your research, AT&T has spent over $15 million on related paperwork and compliance costs. Moreover, depending on the locale, telecom taxes can amount to as much as 25 percent of a consumer's phone bill. These high tax rates on telecom services have become quite controversial, due to the fact that the deregulation of the telecom industry has led to a highly competitive market. Your best estimates indicate that, based on current tax rates, the monthly market demand for telecommunication services is given by Qd = 250 - 4P and the market supply (including taxes) is QS = 3P-100 (both in millions), where P is the monthly price of the telecommunication services. The senator is considering tax reform that would dramatically cut tax rates, leading to a supply function under the new tax policy of Q = 3.3P - 100. How much money per unit would a typical consumer save each…enata and Jerome operate a company that makes miniature electronic surveillance drones from a warehouse in an industrial estate. Each drone costs them $49 to make and has additional fixed costs of $275 (per drone). On average, Renata and Jerome sell 85 drones per week for a price of $64 each. Renata and Jerome then decide to have a sale and reduces the price of each drone to an even numbered price between $54 and $60 inclusive. During the sale, they sell on average 150 devices per week. Q.Plot Total Cost, Total Revenue and Profit Functions on the same set of axes and Find the Marginal Revenue (MR) and Marginal Cost (MC) functions by differentiation and determine the level of output q at which MR = MC. With reference to your Excel plot, what conclusion can you make about this value?
- Follow the instructions. Typewritten for an upvote. No upvote for handwritten. PLEASE SKIP IF YOU HAVE ALREADY DONE THIS. Thank youSeventy-two percent of the members of the United Food and Commercial Workers Local 655 voted to strike against Stop ’n Shop in the St. Louis area. In fear of similar union responses, two of Stop ’n Shop’s larger rivals in the St. Louis market—Dierberg’s and Schnuck’s—decided to lock out its union employees. The actions of these supermarkets, not surprisingly, caused Local 655 union members to picket and boycott each of the supermarkets’ locations. While the manager of Mid Towne IGA—one of many smaller competing grocers—viewed the strike as unfortunate for both sides, he was quick to point out that the strike provided an opportunity for his store to increase market share. To take advantage of the strike, the manager of Mid Towne IGA increased newspaper advertising by pointing out that Mid Towne employed Local 655 union members and that it operated under a different contract than “other” grocers in the area.What is the expected impact of advertising on Mid Towne IGA (how will the…The Red Lobster (RL) restaurant chain has been using two seafood vendors for lobster: Cape Cod Fisheries (CCF) and Maine's Best. Lobsters from CCF averaged $2.20/pound last year while Maine's Best averaged $3.33/lb. While quality has been good from both vendors, CCF continually delivers late and RL has to pay the dock employees overtime to accept deliveries. Last year's overtime costs were $50,000. RL purchased a total of 100,000 lbs. last year from CCF. Calculate the Supplier Performance Index (SPI) for CCF. А.) 2.20 B.) Not enough info available С.) 1.23 D.) 1.33 Е.) 1.05
- Please answer C and DGomez runs a small pottery firm. She hires one helper at $12,000 per year, pays annual rent of $5,000 for her shop, and spends $20,000 per year on materials. She has $40,000 of her own funds invested in equipment (pottery wheels, kilns, and so forth) that could earn her $4,000 per year if alternatively invested. She has been offered $15,000 per year to work as a potter for a competitor. She estimates her entrepreneurial talents are worth $3,000 per year. Total annual revenue from pottery sales is $72,000. Instructions: Enter your answers as a whole number. Calculate the accounting profit and the economic profit for Gomez's pottery firm. Accounting profit = $ Economic profit = $In the aftermath of a hurricane, an entrepreneur took a one-month leave of absence (without pay) from her $5,000 per month job in order to operate a kiosk that sold fresh drinking water. During the month she operated this venture the entrepreneur paid the government $2,500 in kiosk rent and purchased water from a local wholesaler at a price of $1.38 per gallon. If consumers were willing to pay $2.12 to purchase each gallon of fresh drinking water, how many units did she have to sell in order to turn an economic profit? Instruction: Enter your responses rounded up to the nearest gallon.
