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Hook, Inc., is an international manufacturer of bulk antibiotics for the animal feed market. Dr. Mike Jones, head of marketing and research, seeks your advice on an appropriate pricing strategy for Pharmed Caplets, an antibiotic for sale to the veterinarian and feedlot-operator market. This product has been successfully launched during the past few months in a number of test markets, and reliable data are now available for the first time. The marketing and accounting departments have provided you with the following monthly total revenue and total cost information:
TR = $900Q - $0.1Q2 TC = $36,000 + $200Q + $0.4Q2
MR = $900 - $0.2Q MC = $200 + $0.8Q
A. Determine the profits-maximizing output, price and level of profit.
B. Determine the average-cost minimizing output, price and level of profit.
What is the four-firm concentration ratio for this industry? ___74%_ b) What is the eight-firm concentration ratio for this industry? _____98% Suppose that the distribution of sales within an industry is as shown in the table.
Obtain standard errors of your estimates in part (a) using the Wild bootstrap with and using the bootstrap (with B = 9; 999) test H0 : 2 = 0 vs. H0 : 2 = 0 at the 5% level.
In 1984, Walt Disney brought in Michael Eisner, a Paramount executive as CEO. The firm's board of directors agreed to pay Eisner a salary of $750,000 plus a $750,000 bonus for signing on, plus an annual bonus equal to 2 percent of the dollar amoun..
Matt Christpher is a 25 year old mechanical engineering and his salary next year will be $60,000.Matt expects that his salary will increase at a steady rate of 5%per year until his retirement at age 65.
A firm operating a chain of drug stores consider to open a new store in one of locations. The management of firm figures that at the 1st location the store will show an yearly profit of $20,000 if it is successful and an yearly loss of $2,000 if it i..
A quality control inspector chooses a part to be tested. The part is then declared acceptable, repairable, or scrapped. Then another part is tested.
How much of each good will he demand in this case? (The price of x1 is 3$ but his income has decreased)D) Calculate utilities obtained by bundles without tax and with income tax. Draw Jack's best bundles in a graph. (Budget curves, best bundles an..
Suppose it is known that 10% of people who play poker machines have a gambling problem. Suppose it is also known that 20% of the population play poker machines and 5% of the population have a gambling problem.
Assume the demand function and the supply functions for 24-can beer case in Houston are: Demand: QD = 1,000 ? 50P Demand: QS = 40P + 100 (a) What are the market equilibrium price and quantity for beer case?
What is the optimal price of the textbook from the author's point of view and by how much would the demand for the textbook change if advertising were increased by 2%?
Which of the following is not a reason for rising health care costs? Which of the following statements about the way the government measures poverty is correct? Which of the following are explanations for income differences?
Gold Trackers watching the value of precious metals and has daily information on prices and sales of gold for the last many years.
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