consider a homogeneous-product duopoly where each firm initially produces at a constant marginal cost of $200 and there are no fixed costs. determine what would happen to each firm’s equilibrium output and profits if firm 2’s marginal cost increased to $210 but firm 1’s marginal cost remained constant at $200 in each of the following settings:
Answers
Overall, firm 2's increase in marginal cost puts it at a disadvantage compared to firm 1, resulting in a decrease in its equilibrium output and profits. Firm 1, on the other hand, benefits from the situation by maintaining its equilibrium output and experiencing an increase in profits.
In a homogeneous-product duopoly where each firm initially produces at a constant marginal cost of $200 and there are no fixed costs, if firm 2's marginal cost increases to $210 while firm 1's marginal cost remains constant at $200, the equilibrium output and profits for each firm would be affected as follows:
The equilibrium output for firm 2 would decrease, while its profits would also decrease. This is because an increase in marginal cost leads to higher production costs, which in turn reduces the firm's ability to produce the same quantity of output at the same price.
In contrast, the equilibrium output for firm 1 would remain unchanged, as its marginal cost remains constant. However, its profits would increase, since firm 2's increase in marginal cost would lead to a reduction in its ability to compete in the market.
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Related Questions
Which of the following is an output device? DVD-ROM Touchpad Hard drive Printer
Answers
The printer should be considered an output device.
The following information should be considered for an output device:
The output device is the device that transforms the information into a human-readable form. The example of the output devices includes monitor, printer, plotters, speakers, etc.Therefore we can conclude that the printer should be considered an output device.
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explain the effect of a lack of shortage of entrepreneurs in the economy
Answers
Explanation:
Lack of entrepreneurs will lead to lower jobs, innovative products and a decline in economy. By developing new technology, goods, and services, entrepreneurs help to fuel the economic growth.
4. Which of the following statements is true about debits?
a) Debits show an increase in what a company owns or a decrease in what it owes.
b) A debit to an asset account shows a decrease.
c) A debit to a liability account shows an increase.
d) Debits show a decrease in what a company owns or an increase in what it owes.
Answers
Answer:
I believe the answer is d
This is a method of evaluation in a credit bureau that assigns points based on several factors to compute credit
scores for consumers.
Answers
Answer:
point system
Explanation:
fannie mae replaced its free-market system auction with a(n)
Answers
Fannie Mae replaced its free-market system auction with a reverse auction system.
A reverse auction is a bidding system in which the roles of the buyer and seller are reversed, with the seller submitting a price to the buyer and the buyer responding by accepting or rejecting the price provided by the seller. In a traditional auction system, the buyer bids up the price of the product being auctioned, while in a reverse auction, the seller bids the price down. The reverse auction system is advantageous for businesses that are looking to reduce costs, as it enables them to acquire products and services at lower prices.
The Fannie Mae reverse auction system. The Fannie Mae reverse auction system was implemented in order to reduce costs associated with purchasing services. This system enables suppliers to bid down the prices of their services in order to win business from Fannie Mae. The reverse auction system replaced Fannie Mae's free-market system auction, which had previously been used to purchase services. The reverse auction system is designed to encourage suppliers to offer competitive pricing for their services, thereby reducing costs for Fannie Mae.
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I want to start my own brand & build a fashion empire. Should I go to a fashion college or to a business school?
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Answer:
Honestly, business would be much better for you. Learning business will give you many more opportunities and learn how to sell your products. Business will help you with marketing, pricing, discounting, and know how to "not get effed over." I believe that would be much better for you THEN go to fashion college.
suppose the expected market return is 14%, the volatility of the market is .25, the risk-free rate is 4% and the beta of apple is 3.3. what return does the capm predict for apple?
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Suppose the predicted marketplace go back is 14%, the volatility of the marketplace is .25, the risk-unfastened fee is 4% and the beta of apple is 3.3. Return the CAPM prediction for apple is 0.37
What is CAPM and how to calculate it?
The Capital Asset Pricing Model (CAPM) is a model used to calculate an asset's expected return based only on its systematic risk of return. In a perfectly efficient economic system, investors should be able to diversify their portfolios at no cost, allowing them to totally eliminate unsystematic or firm-specific risk.
This is the rationale behind why only systematic risk is priced in. Therefore, why should they demand a premium for a single risk if they have the option to invest in a diverse portfolio of assets rather than a single asset? It is simple to argue that the financial world is far from ideal and contains things like transaction fees and taxes.
The CAPM can theoretically represent as:
\(E(R i) = R f + beta i x [E(R M)-R f]\qquad\qquad\qquad\qquad\small{(1)}\)
According to the model, the asset's expected return, E(Ri), is equal to the product of the market risk premium and risk-free return times the asset's beta, i. A certain asset's beta reflects its systematic risk. There are no irrational risk factors in the equation. The slope of the regression line between the excess market return E(RM)-Rf and E(Ri) are given by i.
E[R_apple] = 0.04 + (0.14-0.04)* 3.3
E[R_apple] = 0.04 + 0.33
E[R_apple] = 0.37
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Furtastic manufactures imitation fur garments. On June 1, 2021, Furtastic made a sale to Willett’s Department Store under terms that require Willett to pay $200,000 to Furtastic on June 30, 2021. In a separate transaction on June 15, 2021, Furtastic purchased brand advertising services from Willett for $22,000. The fair value of those advertising services is $10,000. Furtastic expects that 2% of all sales will prove uncollectible. Prepare the journal entries to record the transactions above. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)
Answers
Answer and Explanation:
The Journal entry is presented below:-
1. Accounts receivable Dr, $200,000
To Sales revenue $200,000
(Being sales revenue is recorded)
2. Advertising expense Dr, $10,000
Sales revenue Dr, $12,000
To Cash $$22,000
(Being expenses is recorded)
Cash Dr, $200,000
To Accounts Receivable $200,000
(Being cash receipt is recorded)
Not super sure about this question....
Answers
Answer:
Don't use the word super. Being sure is either you know or don't know.
Explanation:
Just ask a repeat of the question and then if you are unsure, tell the teacher.
define the term production
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Answer:
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Production :-✐ Production refers to the process of manufacturing goods from raw materials, or in simpler words, production is the making of something for sale.
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Business strategy, as a level of the company's strategy-making process, is Multiple choice question. the strategic initiatives and approaches for managing key operating units and specific operating activities. focused on improving the competitive strength of a single business unit or nondiversified business. concerned with the actions related to particular functions or processes within a business. the overall companywide game plan for managing a set of businesses.
Answers
Answer:
concerned with the actions related to particular functions or processes within a business. the overall companywide game plan for managing a set of businesses.
Explanation:
Business strategy, as a level of the company's strategy-making process, is Multiple choice question. the strategic initiatives and approaches for managing key operating units and specific operating activities. focused on improving the competitive strength of a single business unit or non diversified business. co
your grandma promises you a gift of $100 for your birthday. later, she decides she doesn't want to give you the money. is this a breach of a contract?
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Your grandma promises you a gift of $100 for your birthday. Later, she decides she doesn't want to give you the money. This is not a breach of contract as no gifts are not contracts.
A contract is an agreement that outlines specific, legally binding rights and duties that apply to two or more parties that have reached a consensus. The transfer of commodities, services, money, or a promise to transfer any of those at a later time are common components of contracts. The damaged party may seek legal remedies like damages or rescission in the event of a contract breach. A treaty is a legally binding agreement between parties under international law.
Agreements must be kept, which is the foundation of contract law, a branch of the law of obligations that deals with contracts. Contract law differs from one jurisdiction to another, like other aspects of private law.
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similarities between local market and national market
Answers
Adapting the Four P’s of Marketing for a Local or National
Product: According to MindTools, the product or service needs to satisfy customers’ specific needs. If you have a bakery, for example, you can focus your products to meet a specific customer requirement, like gluten-free products. On a local level, your messaging can include your local ingredients and the local experts who craft the baked goods. On a national level, you may want to talk about the success of the franchise in creating consistently delicious products from family recipes.
Place: The place is where you sell the products. On a local level, this may include your brick-and-mortar store and an e-commerce website. On a national level, this can include your e-commerce website or franchise locations.
Price: How much your customers are willing to pay for your products may differ based on geography. For example, customers in a big city may be willing to pay more for products compared to those living in a suburb or rural area.
Promotion: This is the method of sharing your messaging with your customers. It can include advertising, personal selling, sales promotion, direct marketing and public relations. Regardless of whether you’re taking a local or national approach, it’s vital to look at the competition to ensure your messaging stands out. Timing of the promotion is also key, as certain geographic locations may be more seasonally focused than others. For example, promoting bathing suits in January in New York may be more challenging than promoting them in July
Explain the concept of an opportunity cost with an appropriate example
Answers
Answer:
Explanation:
Opportunity cost is an economics tool that is useful in the process of making a choice of goods and services in order to ensure that scarce resources are used efficiently.
The opportunity cost of a product or service is the name given to an income that could be earned when such product or service is put to an alternative use.
It can also be described as the cost of the alternative forgone to achieve a particular product or service
For an example , if a student decides to give up on watching a movie to study for his exam , the opportunity cost of the exam is the cost and pleasure related to the movie
identify ten entrepreneur and classify them under the types of entrepreneur
Answers
Answer: There are only five types of entrepenuer...
1. Skeptical entreprenuer: Sees the success of others and questions it.
2. Copycat entreprenuer: Sees the success of others and copys them exactly.
3. Research entrepreneur: They research every possible scenario and outcome for strategies to start or grow a business...
4. The determined entrepreneur: - hasn't made it yet- but will.
5. The accolmplished entrepreneur: Has gone through all types of entrepreneur and has built success from it.
Explanation: Hope this helps!
Microeconomics looks at the ______
relationship between consumers and
producers and how this relationship affects the economy.
Answers
Answer:
economy
Explanation:
Microeconomics examines the economic relationship between producers and consumers and its impact on the economy.
Microeconomics refers to the study of decision-making by individuals and businesses, while macroeconomics focuses on the decisions made at the national and governmental levels.
As consumers require goods and services, producers aim to make a profit from providing them.
The economic choices are influenced by factors such as prices, demand, and supply. Ultimately, determining the cost of products and services is the responsibility of both parties involved.
The economy of a society is built on the creation of wealth through selling and purchasing. Producing and consuming are done by consumers and producers respectively. Therefore, the economic relationship is the correct answer.
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What types of planning can be done to improve a nation’s economy?
A nation can undergo ____ planning or ___ planning in order to improve its economy.
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Answer:
A nation can undergo long-term planning or constructive planning in order to improve its economy. Long-term planning involves setting goals and implementing policies that will have an impact over a period of several years. This type of planning may involve investments in education, infrastructure, and research and development, among other areas. Constructive planning involves implementing policies that encourage economic growth and development, such as reducing barriers to trade, promoting entrepreneurship and innovation, and investing in key industries. These types of planning can help a nation to create jobs, increase productivity, and improve living standards for its citizens. THANK YOUby matching revenue earned during the accounting period to related incurred expenses,
Answers
Answer: net income or loss will be properly reported on the income statement.
The accounting rules prescribed that there should be match between the earning of revenue and the incurrence of expenses. That is, to record the amount of revenue at the time these are earned, regardless of these are collected or not, and to record the amount of expenses at the time these are incurred, regardless of these are already paid or not. These amount are both reported in the income statement.
In order to appropriately reflect net income or loss on the income statement, (A) revenue received during the accounting period will be matched with pertinent incurred expenses.
What is revenue?Revenue in accounting refers to the entire amount of money made through the sale of products and services that are essential to the company's core operations.
Sales or turnover are other terms used to describe commercial revenue.
Some businesses make money from royalties, interest, or other fees.
As in "Last year, Company X had revenue of $42 million," the term "revenue" can refer to either general income or the sum of money earned during a specific period of time.
The general definition of profits or net income is total revenue less total expenses for a specific time period.
Net income or loss will be accurately represented on the income statement by matching revenue collected during the accounting period to relevant incurred expenses.
Therefore, in order to appropriately reflect net income or loss on the income statement, (A) revenue received during the accounting period will be matched with pertinent incurred expenses.
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Complete question:
By matching revenue earned during the accounting period to related incurred expenses,
a. net income or loss will be properly reported on the income statement
b. net income or loss will always be overestimated
c. net income or loss will not be determined
d. net income or loss will always be underestimated
A cessation of work by union members in order to obtain economic benefits or correct an unfair labor practice is
A. a strike.
B. a cooling off period.
C. illegal.
D. a boycott.
Answers
Assume that a certain business has $1,000 worth inventory, $1,000 cash in bank, and $10,000 receivable from customers in three months. Further, the business needs to pay a short-term loan worth $5,000 in less than six months. What might be the working capital requirement of this business?
A.
$5,000
B.
$6,000
C.
$7,000
D.
$8,000
E.
$12,000
Answers
Answer:
A. $5,000
Explanation:
Plato
The working capital requirement of this business is $5,000. Thus, option A is correct.
What is working capital?A financial term known as working capital (WC) measures the operating liquidity that is accessible to a company, organization, or other organization, including governmental agencies.
Working capital is seen as a component of operational capital, along with fixed assets like plant and equipment. Current assets are equal to gross working capital. Current assets less Current Liabilities equals Working Capital. An entity has a working capital deficiency, also known as a working capital deficit and negative working capital, if current assets are fewer than current liabilities. Despite having assets and profits, a business may lack liquidity if its assets cannot be quickly transformed into cash.
Therefore, we can conclude that option A is correct.
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Why is time management an important skill to have not only in your life right now but to obtain a career and succeed? Are there any jobs where time management isn’t important?
Answers
There are very few jobs where time management is not important. Even jobs that may seem more flexible or less structured, such as freelancing or entrepreneurship, require effective time management skills to be successful. In most cases, jobs that require little to no time management are low-skilled and typically involve manual labor, such as assembly line work or construction labor. However, even these jobs may require some degree of time management when it comes to meeting production quotas or working within a tight schedule. Overall, time management is an essential skill that can benefit individuals in all areas of life and all types of careers.
Paul owns a photography studio, and he has applied for a loan to
purchase a larger space so he can show his, and other local photographers’, work.
As part of the loan process, the bank reviews Paul’s credit history, which reveals that
Paul’s studio has been in operation for six months, Paul has an active loan on some
photography equipment for $8,000, Paul has a credit score of 650, and the studio
turns a decent profit. Given all this information, Paul’s loan is denied.
Determine which item from Paul’s credit history caused the denial.
Answers
Answer:
A credit score of 650 is slightly below average for the populace, coupled with the fact that the studio has been in operation for a short period of time and he has an outstanding loan of $8,000, is the reason he was rejected. It was the outstanding loan.
Explanation:
The adjustment for supplies used during the period will result in a debit to the ______ account and a credit to the ______ account.
Answers
The adjustment for supplies used during the period will result in a debit to the supplies expense account and a credit to the supplies account.
Define debit: what does it mean?Any accounting entry that results in a reduction in obligations or an increase in assets is referred to as a debit.All debits must be offset with matching credits on the right side of the ledger in double-entry accounting, where all debits are made on the left side of the ledger.Positive asset and cost values are debited and negative balances are credited on a balance sheet.Any double-entry accounting system will include a debit as a component.In contrast to credits, debits exist.A given account's debits and credits indicate the inflow and outflow of money, respectively.To know more about debit, refer to the following link:
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I don't have moey. What is the best job to get when you're in middle school?
Answers
Answer:
You can work at publix as a cashier. They acept 14 year olds. And ur in 8th grade as 14 which is in middle school.
Explanation:
This is the best job u can get as a kid
also brainlist me pls
If an entrepreneur can establish a strong and trustworthy management team, then the
risk might be avoided.
O compliance
O financial
strategic
operational
Mark this and return
Ne
Answers
Answer:
operational
Explanation:
bc it is
If an entrepreneur can establish a strong and trustworthy management team, then the operational risk might be avoided. Thus option D is correct.
What is Team?When a group of people come together in an official setting and in a disciplined manner to achieve the common objective of business with individual roles and shared responsibilities representing teams.
A strong and trustworthy management team helps in better controlling and coordinating events which help to avoid operational risk and helps in producing efficient results with productivity.
The enforcement of laws safeguarding the environment and employees helps to reduce compliance risk, and building a stable number of clients helps in reducing financial risk.
Therefore, option D operational is appropriate.
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How do communications and transportation provide support for the promotion of trade?
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Communications and transportation play crucial roles in supporting the promotion of trade. They facilitate the efficient exchange of goods and services between businesses and customers, allowing for a seamless flow of trade.
Effective communication helps businesses connect with potential customers, suppliers, and partners worldwide. Through the use of various communication channels, such as email, phone, video conferencing, and social media, businesses can easily reach out to potential customers and partners, market their products and services, negotiate deals, and build relationships with clients from different parts of the world.
In addition to communication, transportation also plays a critical role in promoting trade. It enables businesses to transport goods and services to different locations quickly, efficiently, and cost-effectively. Efficient transportation systems, such as shipping, air freight, rail, and road transportation, make it easier for businesses to move products across borders and continents.
In conclusion, effective communication and transportation are vital components that support the promotion of trade. They allow businesses to connect with potential customers and partners, transport goods and services efficiently, and contribute to the overall economic development of countries.
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Chris is disturbed by his supervisor’s encouragement to use the corporate credit card whenever he dines out, even if it is not work-related, because “no one ever will ever know.” This is against Chris’ moral principles, and he refuses to take part in the dishonest behavior. Chris shows___________ in this scenario.
Answers
In this scenario, Chris shows integrity by refusing to engage in dishonest behavior that goes against his moral principles.
Integrity is the quality of being honest, having strong moral principles, and adhering to them, even when it may be difficult or unpopular. Chris is demonstrating integrity by refusing to use the corporate credit card for non-work-related expenses and standing by his principles, even though his supervisor has encouraged him to do so.
Explain integrity.Being trustworthy and sustaining high moral standards are characteristics of integrity. Someone with integrity behaves honourably and morally even when no one is looking.
Integrity denotes consistency, whether or if an action is honest. Even if it's inaccurate, being true about a subject entails being honest. Being honest, by definition, entails being truthful and telling the truth. Integrity comes from having steadfast moral values and upholding them with honesty.
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1.Why is forecasting so challenging? Discuss some of basis of forecasting.2.Among Simple, Weighted, Exponential and Naive forecasting techniques, which one would you prefer to apply? Why?3.Discuss few ways to minimize forecast error. Suppose, you are forecasting the demand of a renowned garment retail brand, how would you reduce error in that case?
Answers
Forecasting is a challenging task as it involves making predictions about the future which is uncertain. Forecasting involves analyzing data and trends, making assumptions about future events, and predicting how these events will impact a company’s performance. The basis of forecasting include historical trends, seasonality, economic indicators, and customer behavior.
Simple, Weighted, Exponential and Naive forecasting techniques are commonly used for forecasting. I would prefer to use Exponential Smoothing technique for forecasting, as it is robust and works well with data with varying seasonal patterns. This technique provides more accurate forecasts than the Naive approach and is relatively easy to implement.
To minimize forecast error, one should use reliable data sources, develop forecasting models that consider both qualitative and quantitative factors, and use simulations to cross-validate the forecasts.
In the case of a garment retail brand, one should also consider factors like customer preferences, fashion trends, customer demographics, and customer buying habits. Additionally, one should also use tools like customer segmentation, regression analysis, and time-series analysis to get more accurate forecasts.
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D. What is the effect on XYZ's accounting equation in June when it remitted the $10,000?
Answers
Answer:
Determination of effect of the listed transactions of Nikea Inc. on the accounting equation:
It is given that In May 2013, Nikea recorded the transaction by debiting accounts receivable for $10,000 and crediting service revenues for $10,000.
Accounts receivable is an asset and debiting assets means increasing the asset. A Service revenue is part of equity and crediting the revenue means increasing the equity.
Hence we can say that this transaction as increased the assets and equity of Nikea Inc.
Explanation:
Determination of effect of the listed transactions of Nikea Inc. on the accounting equation:
It is given that In May 2013, Nikea recorded the transaction by debiting accounts receivable for $10,000 and crediting service revenues for $10,000.
Accounts receivable is an asset and debiting assets means increasing the asset. A Service revenue is part of equity and crediting the revenue means increasing the equity.
Hence we can say that this transaction as increased the assets and equity of Nikea Inc.
Sandra is hired by a sparkling water manufacturer. Her primary function at the company is transforming resources into goods and services. Sandra is involved in
Answers
Sandra is involved in production.
What is Production?
Production can be described as the process of transforming or converting resources into goods and services.
In any organization, the depart that is in charge of production is the production or operation department.
Therefore, Sandra is involved in production.
The reason is that the transformation of resources into goods and services is her key job role at the company.
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