The table below shows revenue data for different firms producing frying pans. Use the given information to find the market share and squared value of the market share for each firm. Round each market share value before further calculations (no decimals). Firm Acme Co Baluga, LLC Corky Co Dingo Inc Echo Co Fox Inc Revenue in $ 170.00 230.00 270.00 250.00 210.00 250.00 Market Share What is the Herfindahl Hirschman Index (HHI) for this market? 9 Market share squared P
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- Art-tile operates in a market where there are a number of competitors and anyone could set up at operation like Art-tile by making the same initial financial commitment as Art. QM is the market demand for tiles and is described by the following demand curve; Tiles Workers AVC ATC MC TC Revenue 1000 10 8 20 8 22000 9000 2000 19 8 13.6 7.2 50000 18000 3000 27 7 11.2 6.4 93000 27000 4000 34 7 9.8 5.6 148000 36000 5000 41 7 9 5.6 217000 45000 6000 48 6 8.4 5.6 300000 54000 7000 58 7 8.3 8 418000 63000 8000 70 7 8.5 9.6 572000 72000 P = 40 - .0001QM What is the long run equilibrium price for the type of tiles that Art-tile produces? Why? How many companies will produce this type of tile in long run equilibrium?In which market structure does Johnson Electronics (Pty) Ltd operate? Provide areason for your answer and what level of output maximizes the firm’s profit? Provide the reason for youranswer output price total revenue average cost total cost margnial cost profit/ loss 10 10.00 100 20.80 208 0 -108 20 10.00 200 12.40 248 4.00 -48 30 10.00 300 9.90 297 5.00 3 40 10.00 400 9.00 360 6.20 40 50 10.00 500 8.80 440 8.00 60 60 10.00 600 9.00 540 10.00 60Table 17-9Only two firms, Acme and Pinnacle, sell a particular product. The table below shows the demand curve for their product. Each firm has the same constant marginal cost of $10 and zero fixed cost. Price Quantity Total Revenues 70 0 0 65 100 6500 60 200 12000 55 300 16500 50 400 20000 45 500 22500 40 600 24000 35 700 24500 30 800 24000 25 900 22500 20 1000 20000 15 1100 16500 10 1200 12000 5 1300 6500 0 1400 0 Refer to Table 17-9. If Acme and Pinnacle operate to jointly maximize profits, then what is the price? Group of answer choices $45 $40 $35 $30
- Table 17-9Only two firms, Acme and Pinnacle, sell a particular product. The table below shows the demand curve for their product. Each firm has the same constant marginal cost of $10 and zero fixed cost. Price Quantity Total Revenues 70 0 0 65 100 6500 60 200 12000 55 300 16500 50 400 20000 45 500 22500 40 600 24000 35 700 24500 30 800 24000 25 900 22500 20 1000 20000 15 1100 16500 10 1200 12000 5 1300 6500 0 1400 0 Refer to Table 17-9. How much less do each of these firms earn in the Nash equilibrium than if they jointly maximize profits? Group of answer choices $250 $500 $750 $1000You 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.Price (dollars per jacket) 888888 180 160 140 120 100 60 40 20 0 80 160 MC profit; $13,000 profit; $7,200 Oloss; $8,000 In the figure above, Gap's economic loss: $13,000 ATC The figure shows the demand curve for Gap jackets (D), and Gap's marginal revenue curve (MR), marginal cost curve (MC), and average total cost curve (ATC). MR 240 320 400 Quantity (jackets per day)
- What is a company based in Nova Scotia that you think shoud begin selling its products in a country outside of North America? who are some current competitors in that country and their marketing efforts.9) Consider the market for soda as reported for 2002 from the problem set. Compute the HHI and the numbers equivalent. How would the FTC categorize the market structure? Exhibit 2 US Market Share 2002 Firm Соса-Cola Pepsico Cadbury Schweppes 15 Private Label Other Total Market Share 44 31 7 3 100CAUTION: MANY PRODUCTS MAY NOT BE EFFECTIVE ON ROADRUNNERS The table below gives data on costs for the Acme Mail-Order Company, a firm in a competitive market. Among their customers is a certain hungry coyote. Q FC VC TC MC AVC ATC 60 60 -- 1 60 16 76 16 16 76 2 60 28 88 12 14 44 3 60 38 98 10 12.7 32.7 4 60 46 106 8 11.5 26.5 60 52 112 10.4 22.4 60 60 120 8 10 20 7 60 70 130 10 10 18.6 8 60 82 142 12 10.25 17.75 60 95 155 13 10.6 17.2 10 60 110 170 15 11 17 11 60 127 187 17 11.5 17 12 60 147 207 20 12.25 17.25 a. Determine the priceand quantity for Acme Company at -the shutdown point -the break-even point b. If the price is $20, what happens in the industry in the long run, assuming all firms have costs identical to the Acme Company's. c. Repeat the analysis from part b, but for a price of $12. LO
- The graph shown displays the cost and revenue curves associated with a monopolistically competitive firm S 18 17 16 15 14 13 12 11 10 9 8 7 654321 3 MC MR 1. $250 2. $200 3. $360 4. $450 ATC 5%53%85%%%%%% At profit maximizing output level, how much profit does this firm earn? D 100 QuantityWhat type of market structure is Toyota Australiaoperating? What are the features of this market? What challenges does this market structure pose for the companyRequired information Below is a graphical illustration of a typical firm operating in a monopolistically competitive industry. P5 PT 01 Multiple Choice 0203 Refer to the graph above to answer this question. What area graphically A loss of P4P5FJ. A loss of Q₁FJQ3- ATC A profit of P4P5FJ. a profit-maximizing firm's total profits or loss?