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- Refer to the figure below to answer questions number 21 and 22. Suppose the graphs represent the demand for use of a local golf course for which there is no significant competition (it has a local monopoly); P denotes the price of a round of golf; Q is the quantity of rounds "sold" each day. The left graph represents the demand during weekdays, and the right graph the weekend demand. $10 $9 $9 $7 MCHATC $4 MCHATC Dwe MR Dwo 350 Q \MRWE O 100120 100 200 200 Q 21. This profit-maximizing golf course should: A. charge $9 for each round, regardless of the day of the week. B. charge $7 for each round, regardless of the day of the week. C. charge $7 for each round on weekdays, and $10 during the weekend. D. charge $9 for each round on weekdays, and $10 during the weekend. 22. This profit-maximizing golf course will earn how much economic profit over the course of a full seven-day week? A. $4,200 B. $1,200 C. $3,400 D. $2,700Amazon May be Sprinting into Athletic Apparel People increasingly wear their workout clothes outside the gym and athletic clothing sales in the United States increased by 15 percent in 2015 and 12 percent in 2016. Amazon wants to get this $44 billion market, which is currently dominated by Nike and Under Armour. How will Amazon’s entry into the athletic clothing market influence Nike and Under Armour? Choose the best answer. Amazon’s entry into the athletic clothing market will 1.(increase, decrease, have no effect) the demand for Nike’s and Under Armour’s clothing. Nike’s and Under Armour’s price will 2. (increase, decrease, have no effect) and the quantity they each produce will 3.(increase, decrease, have no effect). They were making an economic profit before Amazon entered (which is why Amazon entered the market) but Amazon’s entry 4.(raised, decreased, had no effect on) their economic profit.The supply equation for a given product is y = 10x + 50, while the demand equation for the same product is given by y = 5x + 350, where x is the price per unit and y is the number of units sold. Find the break-even point, the price and quantity at which supply equals demand. First graph each line, then place a dot indicating the solution to the system. +500 + -450 400 350 300 250 200 150 100 10 50 -50 -100 -150 -200 -250 -300 10 20 30 40 50 60 70 80 90 1
- Explain how to figure out the number of tubes each company would need to manufacture and sell to earn a profit that is greater than 0. What is the minimum number of lip color tubes each company would need to manufacture and sell in order to earn a profit greater than 0?Aruna owns Pottery Plus, a small firm that produces terra cotta pots for sale in the Edmonton area. The graph below shows Aruna's demand curve. Price ($) 40 36 32 28 24 20 16 12 8 4 0 4 8 12 16 20 24 28 32 36 40 Quantity per periodi need graphs in excel
- In the Cournot equilibirum, what is the market price and units produced by firm 1 and firm 2?Quantity (in gallons) Total Price Revenue $8 $0 50 7 350 100 600 150 750 200 4 800 250 3 750 300 600 350 1 350 400 Imagine a small town in a remote area where only two residents, Maria and Miguel, own dairies that produce milk. Their respective dairies are equal in size. Each week Maria and Miguel work together to decide how many gallons of milk to produce and what price to charge. To keep things simple, suppose that Maria and Miguel can produce as much milk as they want without cost so that the marginal cost is zero and there are no fixed costs. The weekly town demand schedule and total revenue schedule for milk is shown in the table above. Suppose the town enacts new antitrust laws that prohibit Maria and Miguel from operating as a cartel. Assuming that each producer can only modify quantity in increments of 50, which of the following is consistent with the Nash equilibrium for this scenario? Maria will charge a price of $5 for each gallon. Miguel will sell 100 gallons. Milk will…1. What is the purpose of segmenting the market? Please explain your answer. 2. What form of segmentation would be most important for a five star hotel like Raffles Hotel? Explain your answer.
- See below please.On the following graph, use the green point (triangle symbol) to plot the weekly total revenue when the market price is $50, $75, $100, $125, $150, $175, and $200 per scooter. TOTAL REVENUE (Dollars) 5220 4860 4500 4140 3780 3420 3060 2700 2340 1980 + + 0 25 50 75 100 125 150 175 200 225 250 275 300 325 PRICE (Dollars per scooter) Total Revenue According to the midpoint method, the price elasticity of demand between points A and B is approximately 0 In general, in order for a price decrease to cause a decrease in total revenue, demand must be 0.69 1.44 27 Suppose the price of scooters is currently $125 per scooter, shown as point A on the initial graph. Because the demand between points A and B is a $25-per-scooter decrease in price will lead to in total revenue per week.how do i show this answer in two seperate graphs? Or is the one graph showing both parts of the equation? It looks like demand is both curving to the left and the right on the graph, what is the best way to explain this?
