The product sells for $20, and each unit has a constant marginal cost of $16. Assume that the (fixed) cost of entering the market (regardless of whichmarket you select) is $500,000.In the following table, enter the expected number of units sold, and the expected profit, from entering each market.MarketExpected Number of Units SoldExpected ProfitMalaysia2$PhilippinesSingaporeIf you were to enter one of the previously described markets, which one would you enter in order to earn the highest expected profit?O PhilippinesO SingaporeO Malaysia Suppose there is a decrease in cocoa prices.Shift either the supply curve or demand curve on the following graph to depict this decrease in cocoa prices, then answer the questions that follow.5045SupplyDemand40OSupplyDemand105101520253035404550QUANTITY (Thousands of candy bars)As a result of the decrease in cocoa prices, the equilibrium quantity of candy bars hasand the equilibrium price hasPRICE ($ per candy bar)

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The product sells for $20, and each unit has a constant marginal cost of $16. Assume that the (fixed) cost of entering the market (regardless of which market you select) is $500,000. In the following table, enter the expected number of units sold, and the expected profit, from entering each market. Market Expected Number of Units Sold Expected Profit Malaysia 24 Philippines 24 Singapore If you were to enter one of the previously described markets, which one would you enter in order to earn the highest expected profit? Philippines O Singapore O Malaysia

The product sells for $20, and each unit has a constant marginal cost of $16. Assume that the (fixed) cost of entering the market (regardless of which market you select) is $500,000. In the following table, enter the expected number of units sold, and the expected profit, from entering each market. Market Expected Number of Units Sold Expected Profit Malaysia 24 Philippines 24 Singapore If you were to enter one of the previously described markets, which one would you enter in order to earn the highest expected profit? Philippines O Singapore O Malaysia

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

The product sells for $20, and each unit has a constant marginal cost of $16. Assume that the (fixed) cost of entering the market (regardless of which
market you select) is $500,000.
In the following table, enter the expected number of units sold, and the expected profit, from entering each market.
Market
Expected Number of Units Sold
Expected Profit
Malaysia
2$
Philippines
Singapore
If you were to enter one of the previously described markets, which one would you enter in order to earn the highest expected profit?
O Philippines
O Singapore
O Malaysia

Suppose there is a decrease in cocoa prices.
Shift either the supply curve or demand curve on the following graph to depict this decrease in cocoa prices, then answer the questions that follow.
50
45
Supply
Demand
40
O
Supply
Demand
10
5
10
15
20
25
30
35
40
45
50
QUANTITY (Thousands of candy bars)
As a result of the decrease in cocoa prices, the equilibrium quantity of candy bars has
and the equilibrium price has
PRICE ($ per candy bar)

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