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- Are there opportunities to combine volumes of spending from different busi- nesses, and standardize product requirements, reduce the number of suppliers providing these products, or exploit market conditions to receive better pricing?You have just been hired by a forestry company as a consultant. The company wishes to know whether increasing or decreasing A-grade log prices will increase revenue. What information do you need? Suppose you have been given this information, what would you recommend?Each year a new group of high school seniors chooses where they want to attend college. The college faces two identifiably different categories of customers, in-state and out-of-state students. The (inverse) demand equation for in-state students is given by PI=$9000- QI, while demand by out-of-state students is given by PO= $21,000 -9QO. P represents the annual tuition charged by the college and Q represents the number of students who enter as freshmen. The marginal cost of educating an additional student is constant and equal to $3000. Suppose that the Board of Trustees wants to act as a profit-maximizing monopolist in setting price and output. What tuition should they charge for in-state and out-of-state students, and how many of each would enroll each year?
- You are a division manager at Honda. If your data analytics department estimates that the semiannual demand for the Pilot is Q = 350,000 −1.6P, what price should you charge in order to maximize revenues from sales of the Pilot?Mr. Nelson, the manager of a US company, entered into a contract with an Italian company, Roma, to order some leather suitcases. The Goods were delivered on time, but with some of the zippers on the suitcase defective. Mr. Nelson contracted Roma and gave a notice that he wanted to cancel the contract. Roma responded that they only can give a reduction in the price. Who is legally right?When the announcement was made in January about the availability of Starlink in Nigeria, which of the following occurred in the market for internet connectivity?
- Is coupon usage a widespread activity in the targeted international markets?What other forms of sales promotion should be used?Wakanda is a fırm that solely supplies vibranium to Marley and Paradis. The demand function of the Marley market is given as QM=110-PM , and the demand function of the Paradis market is Qp=30-Pp. Wakanda's total cost in producing vibranium is given as TC=100+10Q , where represents a ton of vibranium. 1. Calculate the equilibrium price and output for each market. 2. How much is the total revenue in each market? 3. How much is the total cost of production? ( 4. Assuming that Wakanda can price discriminate between Marley and Paradis market, calculate its total profits. 5. Compute the mark up price on each market and interpret the results.Elvira College has an enrollment of 1,000 students and is located in a small Midwestern town named Johnsonville. Johnsonville has a total population of 2,500 people. The nearest town is 20 miles away. Most of the residents shop locally, but they travel about once a month to the larger city and pick up the large-ticket items. Johnsonville has one fairly good-size supply store named Jameson's Grocery. The only other place in town where you might buy supplies is at the gas station/convenience store located on the edge of town. What competitive situation is Jameson's Grocery experiencing?Competitive Situation:Explanation:
- Energy-intensive industries (e.g. iron and steel) are price insensitive as it relates to energy prices. In addition, most energy production technologies have very stable cost structures as the cost is almost entirely up-front (and not operational). i.e. once a power plant is built, each kW of energy produced roughly costs the same. Which of the following would best represent this market?Back in 2016, there were two main streaming services Netflix and Hulu. The market inverse demand for streaming is P = 20 – Qh-Qn Marginal cost for both streaming services is 2. Find the reaction functions and equilibrium strategies and equilibrium price/quantity from this market. Show your work and clearly mark your answers.Problem 2: Presently, APlus Transport and Big Movers are the only suppliers of services that haul heavy construction equipment between jobs within the Midwest. No other suppliers have the equipment necessary to perform the service. The market inverse demand for these hauling services is given below. P = 4,030-4Q where P is price per trip and Q is total number of trips per year. For simplicity, also assume that neither firm has fixed costs. From company records, you are given the following variable cost function for each firm: a. C. TVC = 300 TVCB = 80QB b. Calculate the Cournot market equilibrium price-output solutions for each firm including their respective profits. d. Assume these two competitors operate as a two-firm Cournot duopoly. Find the reaction functions for each firm. Suppose Big Movers shuts down operations so that APlus now has a monopoly in this market. What is the price, quantity, and profits for APlus after this change? Summarize the results of your findings over the…
