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- Suppose that the restaurant industry in Honolulu is monopolistically competitive and is currently in Stage 2 equilibrium (firms currently make zero profit). The graph below shows the cost curves for a typical restaurant in this industry. (a) Draw a demand curve and an MR that is consistent with this market being in Stage 2 equilibrium. (b) Show the equilibrium price Now suppose an highly-infectious new virus comes to the island, causing demand for restanrant meals to shift in. (c) What would you expect this change in restaurant demand when the number of firms is fixed? Explain. (d) What would you expect the change in demand to do to the number of meals sold, prices and profits of firms in the long run if firms can enter and exit? What happens to the mumber of restaurants?Continuing with the Table of Certificate Programs, complete the calculations for Total Revenue by determining how many customers will purchase at each of the segments' bundle prices. Online Self Certifications for Social Work License Certification in Online Counseling Segment 1. 1000 Segment 2 Segment 3 Segment 4 4a) 4b) 4c) Customers 4d) 1000 1000 1000 $190 $150 $95 $35 TR Counseling a b с d Certification as a Group Home Counselor $70 $90 $160 $195 TR Group Home e f g h Bundle $260 $240 $255 $230 TR Bundle 4a 4b 4c 4d5. Foreign direct investment versus licensing Giocattolo is a profit-maximizing firm producing toy cars-a capital-intensive good-which are sold in its home country, Italy, and abroad in Spain. Giocattolo chose foreign production as a method of penetrating the Spanish market and has to decide whether it is more efficient to directly invest in Spain to establish a production subsidiary or to license the technology to a Spanish firm to produce its goods. On the following graph, AVC Spain is the average variable cost curve of a Spanish firm producing toy cars. (This curve represents costs such as labor and materials.) The curve ATC subsidiary represents the total unit costs Giocattolo will face if it establishes a subsidiary in Spain. PER-UNIT COST (Dollars) 10 9 8 2 1 0 0 15 ATC Subsidiary + 105 30 45 60 75 90 PRODUCT (Thousands) 120 AVC Spain + 135 150 ?
- 19) Full-cost pricing strategies include: 20) Why is Customer Lifetime Value important? 21) What does Marketing Myopia indicate?First option is "more" or "less" Second option is "producing more jackfruit and earning positive profit" or "producing the same amount of jackfruit and running at loss" or "entering the industry" or producing the same amount of jackfruit and eanring positive profit" or "producing less jackfruit and running at loss" or "exiting the industry" Third option is "producing more jackfruit and earning positive profit" or "producing more jackfruit and running at loss" or "entering the industry" or producing less jackfruit and eanring positive profit" or "producing less jackfruit and running at loss" or "exiting the industry" Fourth option is "new technologies are discovered that lower costs" or "each firm in the industry is once again earning zero profit" or "consumer demand returns to its orignial level" or jackfruit populations grow large enough to support more firms" Fifth option is "upward sloping" or "downard sloping" or "horizontal" or "vertical"Best Lights wants to prevent Bright Lights from entering the light bulb market, If Best Lights expands its capacity the expansion cal lead to all of the following except which one? decrease Bright Lights tofit from entering the market INTA lower Best Lights profit-maximizing quantity THE SUNBLOMSIA lower Best Lights profit may mizing price lower Best Lights marginale
- Economics What factor determines how many segments to divide your demand in for group pricing? O The similarity of demand across segments. The ability of the company to identify segments with similar reservation price. Whether the product is a tangible good or an intangible service. The amount of consumer information available to the company.Identify atleast 2 pricing strategy being implemented by: 1. Agusan del Norte Electric Cooperative (ANECO) 2. Holcim 3. Mitsubishi 4. Pizza Hut 5. Cebuana Lhullier Support your answer.Question 25 (a) (b) MC Price ATC MC ATC Price MR AMR Quamity Quantity (c) (d) Price Price MC MC ATC ATC .D Quantity Quantity If the above images are representative of the average firm in a monopolistically competitive market, for which diagram would you expect firms to exit the market? (a) (b)
- II. Problem 1. Tennis Products, Inc., produces three models of high-quality tennis rackets. The following table contains recent information on the sales, costs, and profitability of the three models: Average Quantity Sold (Units/Month) 15,000 5,000 10,000 Variable, Cost per Contribution Current Price Total Margin Per Unit Contribution Model Revenue Unit Margin* $225,000 85,000 250,000 $560,000 A $30 $450,000 175,000 450,000 $1,075,000 $15 $15 B 35 18 17 C 45 20 25 Total * Contribution to fixed costs and profits. The company is considering lowering the price of Model A to $27 in an effort to inçrease the number of units sold. Based on the results of price changes that have been instituted in the past, Tennis Products' chief economist estimates the arc price elasticity of demand to be -2.5. Furthermore, she estimates the arc cross elasticity of demand between Model A and Model B to be approximately 0.5 and between Model A and Model C to be approximately 0.2. Variable costs per unit are…Demand curve of electric vehicles versus gas vehiclesContiuing reduction in the demand for a company's products that occurs when competitor prices are not met is reffered to as ______ (a) Competitor pricing pressure (b) Super-demand cutback (c) Continuous setp down demand (d) Downward demand spiral