Two cinemas operating in a town in Labrador have been charging the same price. Then the managers strategize to maximize total revenue. Apply the economic concepts, principles, theories, and models covered in ECN501 to appropriately analyze and evaluate these two situations.
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- (a) Draw a correctly labeled graph for a monopoly and show each of the following. (i) The profit-maximizing quantity, labeled QM (ii) The profit-maximizing price, labeled PM (b) Assume the monopoly now engages in perfect price discrimination. On your graph in part (b), show the profit-maximizing quantity for the price discriminating monopoly, labeled QPD. (c) Based on your answer to part (b), will a perfectly competitive market produce a larger, smaller, or the same quantity as the perfectly price discriminating monopolist? Explain.Creative Homework!Shorr Project Assume that you area marketing consultant for one of the clients in ilem14.16. You believe that the business would benefitfrom nontraditional marketing. Develop seve<al ideasfor social-media tactics that you feel would be successful for the clientPanther Acre Cattle Company - Chapter 7 Lab A typical farm or ranch problem is determining the optimum or profit-maximizing weight to sell fed cattle. Assume the feeder cattle are purchased at 600 pounds. The feed required and the weight gain is shown in the table below. Feed costs 7¢ per pound and feeder cattle prices are as follows: Weight Price per Pound 600-899 lbs 72¢ go to 3rd 900-1099 lbs decimal 1100 lbs or more 70¢ Point 67¢ Pay attention to the price changes when computing MVP. Input Output Feed Weight Selling Required Gain Weight Total Average Marginal Marginal Marginal Revenue Physical Physical Value Input (lbs) (lbs) (lbs) Product Product Product Cost 600 0 0 600 432 XXX XXX XXX XXX 500 50 So 650 468 0.10 0.083 1,100 145 as 745 536.40 0.132 6.158 1,700 235 aol 835 601.20 0.138 0.15 2,300 320 85 920 644 0.139 2,900 400 80 1,000 700 0.138 3,500 465 65 1,065 745, 50 0.133 4,100 525 60 1,125 753.75 0.128 4,700 575 SO 1,175 787.25 0.122 5,300 615 40 1,215 814.05 0.116 5,900 645…
- dentify the four alternatives for handlingtransportation costs in pricing policies.The inverse demand function for a homogeneous product Stackelberg duopoly is P = 18, 000 − 5Q. Thecost structure for the leader and follower, respectively, are CL(QL) = 2, 000QL and CF (QF ) = 4, 000QF .(a) What is the follower’s reaction function?(b) Determine the equilibrium output level for both the leader and follower.(c) Determine the equilibrium market price.(d) Determine the profits of the leader and the follower.Crowdsourcing affects new product development by: Group of answer choices: A) providing a controlled, exciting environment for the development of new product ideas. B) being a secretive process that helps to firm collect new ideas that other firms haven't seen. C) providing the company with ideas from a great many sources, including consumers. D) allowing inventors of novel technical products a way to promote their ideas.
- XYZ company can manufacture their own products and sells them. They are able to control the demand by changing the price that is determined by the equation below. The company is thinking of maximizing their profit. The fixed cost is $1,000 per month and the variable cost is $40 per unit. Find the number of units that must be manufactured and sold monthly to maximize profit. (Demand D in the equation is monthly) Hint: Profit = Total Revenue - Total Cost 2,700 5,000 p = $38 + D for D > 1 D2 1 Add fileWhat, if any, unique ethicalresponsibilities exist when marketing toethnic subcultures?The price p and the quantity x sold of a certain product obey the demand equation below. x= -8p +176, 0sps22 (a) Express the revenue R as a function of x. (b) What is the revenue if 144 units are sold? (c) What quantity x maximizes revenue? What is the maximum revenue? (d) What price should the company charge to maximize revenue? (e) What price should the company charge to earn at least $576 in revenue? (a) R(x) =
- Disney’s 2021 and 2020 Christmas adverts ‘The Stepdad’ and ‘From Our Family to Yours’ depict Filipino culture and portray blended and multi-racial families. The ads have received positive comments from target audiences and the general public. Critically evaluate the extent to which these ads are examples of the adoption of standardisation, localisation or glocalisation in advertising strategy.One solution to the problems of marginal-cost pricing of a regulated natural monopolist is average cost pricing. In this model, the monopolist is allowed to price its production at average total cost. (c) Differentiate between an average-cost pricing and marginal-cost pricing.Contiuing reduction in the demand for a company's products that occurs when competitor prices are not met is reffered to as ______ (a) Competitor pricing pressure (b) Super-demand cutback (c) Continuous setp down demand (d) Downward demand spiral