Sony announces Smart Tennis SensorTennis racket maker Babolat introduced its smart racketPlay Pure Drive in 2013. Smash and Shot Stats soonfollowed. Now Sony is partnering with Wilson to makeSmart Tennis Sensor, a device that sits at the bottom of aracket's handle and tracks every metric and statistic that atennis player or coach could need.Source: Gizmag August 22, 2014Explain why the economic profit that Babolat and Sonymake in this market is likely to be temporary.Draw a graph to illustrate the outcome in the long run.Show the excess capacity and markup in the long run.Babolat's and Sony's economic profit from smart rackets islikely to be temporary becauseOA. other firms will enter the market and demand forrackets made by Babolat and Sony will decreaseOB. the number of tennis players is likely to decreaseOC. other firms will enter the market and the supply ofsmart rackets made by Babolat and Sony willdecreaseSelected:none6Oll&7O*8220200-180-160-140-120-100-80-60-40-20-0-0Price and cost (dollars per smart racket)9>>> Draw only the objects specified in thequestion.MCMRD40 80 120 160 200 240 280 320 360 400 44Quantity (thousands of smart rackets per year)Delete Clear0ATCNextxCanvassupportd?BES Sony announces Smart Tennis SensorBabolat's and Sony's economic profit from smart rackets islikely to be temporary becauseOA. other firms will enter the market and demand forrackets made by Babolat and Sony will decreaseOB. the number of tennis players is likely to decreaseOC. other firms will enter the market and the supply ofsmart rackets made by Babolat and Sony willdecreaseOD. eventually Babolat and Sony will find somethingelse to produce and will leave the marketThe graph shows the demand curve, the MR curve, and thecost curves for a producer of smart rackets in long-runequilibrium.Draw the point that shows the firm's profit-output and price. Label it 1.Draw the point that shows the output and average total costat the efficient scale. Label it 2.Draw a horizontal arrow that shows the firm's excesscapacity. Label it Excess capacity.Draw an arrow at the quantity produced to indicate themarkup. Label it markup.6OOll&7*8220200-180-160-140-120-100-80-60-40-20-Price and cost (dollars per smart racket)9MCMRD0-0 40 80 120 160 200 240 280 320 360 400 44Quantity (thousands of smart rackets per year)>>> Draw only the objects specified in thequestion.✓ATCNextCanvas.support ad?ES

Monopolistic competition is where there are numerous sellers selling homogeneous but separated…

Sony announces Smart Tennis Sensor Tennis racket maker Babolat introduced its smart racket Play Pure Drive in 2013. Smash and Shot Stats soon followed. Now Sony is partnering with Wilson to make Smart Tennis Sensor, a device that sits at the bottom of a racket's handle and tracks every metric and statistic that a tennis player or coach could need. Source: Gizmag August 22, 2014 Explain why the economic profit that Babolat and Sony make in this market is likely to be temporary. Draw a graph to illustrate the outcome in the long run. Show the excess capacity and markup in the long run. . 220- 200- 180- 160- 140- 120- 100- 80- 60- Price and cost (dollars per smart racket) MC ATC

Sony announces Smart Tennis Sensor Tennis racket maker Babolat introduced its smart racket Play Pure Drive in 2013. Smash and Shot Stats soon followed. Now Sony is partnering with Wilson to make Smart Tennis Sensor, a device that sits at the bottom of a racket's handle and tracks every metric and statistic that a tennis player or coach could need. Source: Gizmag August 22, 2014 Explain why the economic profit that Babolat and Sony make in this market is likely to be temporary. Draw a graph to illustrate the outcome in the long run. Show the excess capacity and markup in the long run. . 220- 200- 180- 160- 140- 120- 100- 80- 60- Price and cost (dollars per smart racket) MC ATC

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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x Question Completion Status The following graph shows the costs and revenues of a typical firm operating in a certain market condition. What type of market this firm is operating under? Is it a perfect competition, or monopoly, or monopolistic competition market? How can you tell? Explain. MC ATC D AVC Save A
Firm ABC is operating on an inelastic portion of its demand curve. Can a profit maximizing firm operate on an inelastic portion of their demand? Briefly explain.
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2. Netflix profits slide Netflix has hit a bump in the road on its quest to reach 60 million to 90 million subscribers in the United States and, by the end of 2016, become fully global. Netflix faces fierce competition from streaming rivals like Amazon, HBO, and Hulu and also competes against cable, satellite, YouTube, and DVDs. Source: The New York Times, October 14, 2015 Explain why more firms have entered the streaming-video market and how the economic profit of firms in the market will likely change. What will economic profit be in the long run?
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You own Athleticon, which manufactures athletic wear. Your new contract with Atlanta United, a professional soccer team, allows Athleticon to be the sole suppler of athletic wear with the “Atlanta United” logo. No one lese can manufacture athletic wear with the “Atlanta United” logo. What do you think will be Athleticon’s level of profitability on the sale of “Atlanta United” athletic wear? Explain why. Your contract with Atlanta United only lasts 3 years. It was not renewed. Other firms can now manufacture athletic wear with the “Atlanta United” logo It is now 5 years after your contract with Atlanta United was terminated. Any manufacturer that wants to can manufacture and sell athletic wear with the “Atlanta United” logo. What do you think will be the level of profitability and rate of return on manufacturing athletic wear with the “Atlanta United” logo? Explain why.
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