Assume there are currently five firms producing and selling beer in the Latin American market. Also assume that the product is differentiated and barriers to entry are high in the industry, making this market an oligopoly. If two firms were to exit the market, economists expect the equilibrium price will likely
a) not change
b) decrease
c) increase
Answers: 3
Business, 22.06.2019 17:30
Palmer frosted flakes company offers its customers a pottery cereal bowl if they send in 3 boxtops from palmer frosted flakes boxes and $1. the company estimates that 60% of the boxtops will be redeemed. in 2012, the company sold 675,000 boxes of frosted flakes and customers redeemed 330,000 boxtops receiving 110,000 bowls. if the bowls cost palmer company $3 each, how much liability for outstanding premiums should be recorded at the end of 2012?
Answers: 2
Business, 23.06.2019 01:00
The monthly demand equation for an electric utility company is estimated to be p equals 60 minus left parenthesis 10 superscript negative 5 baseline right parenthesis x, where p is measured in dollars and x is measured in thousands of killowatt-hours. the utility has fixed costs of $3 comma 000 comma 000 per month and variable costs of $32 per 1000 kilowatt-hours of electricity generated, so the cost function is upper c left parenthesis x right parenthesis equals 3 times 10 superscript 6 baseline plus 32 x. (a) find the value of x and the corresponding price for 1000 kilowatt-hours that maximize the utility's profit. (b) suppose that the rising fuel costs increase the utility's variable costs from $32 to $38, so its new cost function is upper c 1 left parenthesis x right parenthesis equals 3 times 10 superscript 6 baseline plus 38 x. should the utility pass all this increase of $6 per thousand kilowatt-hours on to the consumers?
Answers: 2
Business, 24.06.2019 04:20
In exercise 7 a sales manager collected the following data on x=annual sales and y=years of experience. the estimated regression equation for these data is y= 80 + 4x.salesperson years of experience annual sales($1000s)1 1 802 3 973 4 924 4 1025 6 1036 8 1117 10 1198 10 1239 11 11710 13 1361) compute sst, ssr, sse2) compute the coefficient of determination r(squared) . comment on the goodness of fit.3) what is the value of the sample correlation coefficient?
Answers: 1
Assume there are currently five firms producing and selling beer in the Latin American market. Also...
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