subject
Business, 13.12.2019 22:31 queenpanda365

Dumphy and funke are rival tattoo artists in the small town of feline. there are no other tattoo artists in town. it costs $30 to produce a tweety bird tattoo. assume for simplicity that fixed costs are zero and that dumphy and funke perform identical work. for a while, there was too much demand for funke and dumphy to handle and they both charged $200 for a tatoo. but recently, demand has dropped significantly and there isn't enough work for both to fill their days at any price. however, there is some demand at all prices. what will be the equilabrium price that dumphy and funke will charge? what are the profits for dumphy and funke at the equilibrium price? what type of competition would funke and dumphy likely engage in after the decrease in demand?

ansver
Answers: 2

Another question on Business

question
Business, 21.06.2019 21:50
Franklin painting company is considering whether to purchase a new spray paint machine that costs $4,800. the machine is expected to save labor, increasing net income by $720 per year. the effective life of the machine is 15 years according to the manufacturer’s estimate. required determine the unadjusted rate of return based on the average cost of the investment.
Answers: 2
question
Business, 22.06.2019 01:00
Need with my trade theory homework. i doubt what i wrote was right.consider a monopolistically competitive market for soft drinks in which n symmetric firms face the following demand function: q=s(1/n-b(p-(p with the straight line on which implies the marginal revenue functionmr=p-(q/sb)finally, suppose firms face the total cost functiontc=900,000+100qsuppose the market size, s, is 27,000,000, and the elasticity parameter b is 0.003.diagram the price and the average total cost in the market as a function of the number of firms. what are the equations for each curve, and why does each curve slope up or down? label the equilibrium number of firms and the equilibrium price in the diagram. why is this the equilibrium?
Answers: 1
question
Business, 22.06.2019 16:10
Omnidata uses the annualized income method to determine its quarterly federal income tax payments. it had $100,000, $50,000, and $90,000 of taxable income for the first, second, and third quarters, respectively ($240,000 in total through the first three quarters). what is omnidata's annual estimated taxable income for purposes of calculating the third quarter estimated payment?
Answers: 1
question
Business, 22.06.2019 18:00
What is the cause of smoky exhaust?
Answers: 1
You know the right answer?
Dumphy and funke are rival tattoo artists in the small town of feline. there are no other tattoo art...
Questions
Questions on the website: 13722363