Question 11 Assuming that there were other services providers in Nigeria besides FiberOne before the entry of Starlink, which of the following points correctly depicts FiberOne prior to the entry of Starlink? Revenue and cost (rand) a) d b) e c) c d) b P₂ MC QiQjQ₂ Q Quantity per period Show Transcribed Text AC AVC Question 12 The reason for your selection in question 11 is because the firm would be.... a) earning economic profits b) earning economic losses c) earning normal profit d) earning accounting profits
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- Question: Widget is a commodity that is traded in a perfectly competitive global market that consists of many small price-taking firms. The firms fall in three categories with the following characteristics: Number of firms Capacity of firm's plant (units AVC (S per Fixed cost per unit at full per year) Capital charge per unit at full capacity ($/unit) unit) capacity ($/unit) Type 25 100 units 30 15 10 1 Туре 50 50 units 40 20 10 Type 100 40 units 45 25 10 3 Assume that each firm's AVC is constant up to the capacity of its plant. Further, assume that once built, a firm's plant has zero redeployment value. Finally, assume that a typical entrant has a cost structure identical to the Type 1 firms and that there are many potential entrants. • The demand for widgets is Q = 8000 - 20P, where P is $ per unit and Q is measured in units per year. (Remember: use only whole numbers, and do not use any other characters or spaces.) a. The short-run equilibrium price in the world widgets market is:…1. ThedemandfunctionforagoodisgivenbytheequationP=a−bQwhilethetotalcost function is TC = dQ2 + eQ + f, where a, b, d, e and f are positive constants. (a) Derive the equation for profit.(b) Derive an expression for the value of Q for which profit is maximised.(2) problem think of researches,ecommerce problem measure quantatitive and qualitative analyais.
- Total Total Revenue Cost Quantity (TR) (TC) Profit (MR) (MC) 0 0 8 1 8 10 2 16 11 3 24 13 4 32 16 5 40 20 6 48 27 7 56 36 8 64 47 9 72 65 10 80 90 Marginal Marginal Revenue Cost Fill in the table to determine the profit maximizing level of output, price, and profit. The optimal quantity is A/ A (number) units, the optimal price is (number) dollars, which maximizes (number) dollars. This table A profits at displays profit maximization under the (perfect competition / monopolistic competition / oligopoly / monopoly) market structure.Specific Instructions: Identify the factor/s affecting the supply and/or demand for each of the underlined good or service Start from an initial equilibrium market condition (see figure below) and then illustrate the shift/s in the supply and/or demand curve/s Assume equal magnitude of shift in the supply and demand curves. Label all figures and use an arrow to show the direction of the shift. X Q6 Marginal revenue is the rate of change of the total revenue per unit change in sales when the level of sales is x items. For x = n, R'(n) gives an estimate for how much revenue the n + 1 item will generate. Marginal profit is the rate of change of the profit per unit change in sales when x items are produced and sold. For x = n, P'(n) gives an estimate for how much profit the n+ 1 item will generate. 2. Sony has determined that the revenue from the sale of x Playstation controllers is given by R(x) = 94x -0.03x² dollars. The cost of producing x Playstation controllers is C(x) = 10,800 +34x dollars. a. Find the profit function. b. Find P (600) and interpret your answer in a complete sentence. c. Find the marginal profit function. d. Find P' (600) and interpret your answer in a complete sentence. e. Find any breakeven points.
- Systems applicationSolve and analyze the following problems. Make sure all the steps are properly justified. Correctly use mathematical notation or terminology. Interpret the solution in the context of the problem.Suppose the supply and demand equations for printed shirts for a graduating class are given byp = 0.7q + 3p = -1.7q +15where p is the price in dollars and q is the quantity in hundreds.Determine supply and demand if the shirts cost $ 9.00. Analyze and discuss the stability of the shirt market at this price level. Prepare the graph of the two equations in the same coordinate system and identify the equilibrium point, the supply curve, and the demand curve.Case summary: Professor W distributed copies of a section from business law text book to his students while he delivered a lecture about business torts at the University. Daughter of one of the textbook authors, present at the seminar, told her father, who in turn filed a suit against Professor W for copyright infringement. To find: Infringement of the copyright and the result of the case.B Product Product A Product B Product C Product D Widget 1 Widget 2 Widget 3 Gadget X Gadget Y Gadget Z 3 4 5 6 7 8 9 10 11 12 13 14 15 16 Required: 17 Calculate the following statistics for both Advertising Expenses and Sales: 18 Advertising Expense Sales Advertising Expense $36,900 $38,000 $33,000 $25,900 $26,000 $42,987 $39,008 $42,009 $19,067 $61,002 C $19,067 $61,002 $135,568,977 $8,268 $36,387 $37,450 $41,935 $27,750 $41,259 Sales $83,025 $85,500 $74,250 $90,650 $91,000 $150,455 $70,214 $75,616 $34,321 $244,008 $34,321 $244,008 $3,378,809,900 19 Minimum 20 Maximum 21 Variance 22 Standard Deviation 23 Mean 24 Median 25 Range 26 1st Quartile 27 3rd Quartile 28 88th Percentile 29 Inner Quartile Range 30 31 What is the correlation between the amount spent on advertising and the sales of a product? 32 33 Correlation 34 35 This number indicates a 36 $58,128 $99,904 $84,263 $209,687 $74,592 $90,913 O relationship between the two variables
- Tennis Products, Inc., produces three models of high-quality tennis rackets. The following table contains recent information on the sales, costs, and profitability of the three models: Average Quantity Current Total Variable Cost Contribution Margin Contribution Sold Price Revenue Per Unit Per Unit Margin* Model (Units/Month) ($) ($) ($) ($) ($) 15,000 30 450,000 15.00 15 225,000 В 5,000 35 175,000 18.00 17 85,000 10,000 45 450,000 20.00 25 250,000 Total $1,075,000 $560,000 *Contribution to fixed costs and profits. The company is considering lowering the price of Model A to $27 in an effort to increase 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 to be approximately 0.2. Variable costs per unit are…How to Determine "Accounting Profit"Merriman Company provides the following ABC costing information Activities Account inquiry hours Account billing lines Account verification accounts Correspondence letters Total costs Total Costs $400,000 $280,000 $150,000 $ 50.000 S880.000 Activity-cost drivers 10,000 hours 4,000,000 lines 40,000 accounts 4,000 letters The above activities are used by Departments A and Bas follows: Account inquiry hours Account billing lines Account verification accounts Department A 2,000 hours 400,000 lines 10,000 accounts 1,000 letters Department B 4,000 hours 200,000 lines 8,000 accounts 1,600 letters Correspondence letters How much of the account inquiry cost will be assigned to Department A?