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Two companies, Lawnman Inc. and Tauro Co., are competing in the manufacture and sale of a new type of kryptonite-powered lawnmowers. Lawnman has a somewhat older plant and requires a variable cost of $150 per lawnmower; its fixed costs are $200,000 per year. Tauro's plant is more automated and thus has lower unit variable costs of $100; its fixed cost is $400,000.
Since the two companies are close competitors, they both sell their product at $250 per unit.
What is the break-even quantity for each?
At which quantity would the two companies have equal profits?
If sales of each company were to reach 4,500 units per year, which company would be more profitable? Why?
Illustrate what means does it use to hedge against exchange rate risk. Using this information, illustrate what do you think would be effect of increases/decreases in dollar's exchange value on firm's profitability.
Moving Equilibrium. Show the effect of each on the monopoly market equilibrium; you don’t need to have exact answers but explain the direction of change in the demand and/or marginal cost curves.
Critically analyze the pros and cons of putting a price ceiling on prescription medicine. Make sure to use concepts from the chapter in this unit such as government intervention, inefficiencies, price elasticity, etc. What are the impacts that the ph..
Output is produced according to Q = 4LK, where L is the quantity of labor input and K is the quantity of capital input. If the price of K is $10 and the price of L is $5, then the cost minimizing combination of K and L capable of producing 32 units o..
What common assumptions guide the Thucydides and Procopius readings regarding how a historian should chronicle a plague? What different assumptions do they possess about both human behavior and the role divine forces play in human history? How do bot..
The free market economy is an efficient way to allocate resources. However, this is not true 100% of the time. The government serves a role to intervene when maintaining competition and a legal structure. Also, goods and services that are not compete..
for each bundle that the consumer chooses, show the indifference curve that goes through that bundle. Make sure to label your graph carefully and accurately.
Suppose the price level and the value of the dollar in Year 1 are 1.0 and $1.00, respectively. If the price level rises to 1.50 in year 2, what is the new value of the dollar? Assume that John Nash has $10,000 in his checking account and uses his che..
Suppose that the total revenue received by a company selling basketballs is $840 when the price is set at $15 per basketball and $840 when the price is set at $10 per basketball. Without using the midpoint formula, can you tell whether demand is elas..
What will happen to price at which fisherman can sell lobsters. What will happen to price paid by U.S. consumers. What will happen to quantity consumed by U.S consumers.
If agricultural price subsidies have the effect of lowering resource costs for farmers, use a supply and demand graph to show the effects on the market for food. Illustrate what are the implications for American public health.
One of the principles of social psychology holds that people's actual behaviors within a cultural context sometimes vary significantly from their knowledge of that culture.
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