In Problem 5, suppose that Grinch and Grubb go into the wine business in a small country where wine is difficult to grow. The demand for wine is given by p = $480 - .2Q, where p is the price and Q is the total quantity sold. The industry consists of just the two Cournot duopolists, Grinch and Grubb. Imports are prohibited. Grinch has constant marginal costs of $6 and Grubb has marginal costs of $45. How much Grinch's output in equilibrium? a) 1,350 b) 2,025 c) 337.50 d) 675
Answers
Grinch's output level in equilibrium is 577.5 units, so the closest answer choice is (c) 337.50.
To find the output level that maximizes Grinch's profit, we can use the Cournot duopoly model. This model assumes that each firm sets its output level taking the output level of the other firm as given, and that both firms maximize their profits.
First, we need to find the market quantity by setting the total quantity sold equal to the sum of Grinch and Grubb's output levels:
Q = qG + qB
Next, we can find Grinch's reaction function by solving for its output level as a function of Grubb's output level:
qG = (1/2)*(Q - qB)
To maximize its profit, Grinch will set its output level where its marginal revenue equals its marginal cost. We can find Grinch's marginal revenue by taking the derivative of the market demand function with respect to Q, and multiplying by (1/2) since Grinch produces half of the market quantity:
MRG = (480 - 0.4Q)/2
Setting MRG equal to Grinch's marginal cost of $6 and solving for qB, we get:
(480 - 0.4Q)/2 = 6
480 - 0.4Q = 12
0.4Q = 468
Q = 170
Plugging this value into the expression for Grinch's reaction function, we get:
qG = (1/2)*(1170 - qB)
To find Grinch's output level, we can substitute this expression into its profit function, which is:
πG = pqG - 6qG
πG = (480 - 0.2Q - 0.2qB)(1/2)(1170 - qB) - 6*(1/2)*(1170 - qB)
Taking the derivative of this expression with respect to qB and setting it equal to zero, we get:
-0.2*(1170 - 2qB) + (480 - 0.2Q - 0.4qB)/2 = 6
-234 + 0.4qB + 240 - 0.1Q = 12
0.4qB = 6
qB = 15
Finally, we can substitute qB = 15 into the expression for Grinch's reaction function to find its output level:
qG = (1/2)*(1170 - 15) = 577.5
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Related Questions
In the three-lines-of-defense model of risk management, the enterprise risk management program is responsible for controlling risk on a daily basis. True False
Answers
Answer:
False
Explanation:
The three lines of defense are Operational Management, Risk Management, and Internal Audit.
Operational Management's goal is to prepare and maintain internal controls that will help in executing risk and control procedures on a daily basis. While the purpose of risk management is to ensure that the first line of defense (i.e. operational management) is functioning properly as required.
Keeping the above points in view the statement "the enterprise risk management program is responsible for controlling risk on a daily basis" is false as it is responsible for overseeing the operational management rather than controlling risk on daily basis.
Suppose you purchased a stock a year ago. Today, you receive a
dividend of $19 and you sell the stock for $111. If your return was
9%, at what price did you buy the stock? $________.
Answers
You bought the stock for $82.83.
The price you bought the stock is $97.71. Here's how to get the answer:
Given that you received a dividend of $19 and you sold the stock for $111. The dividend and the selling price gives you a total return of $130 ($19+$111 = $130).The problem also gives a total return of 9% for the year using the formula:return = (ending price - beginning price) / beginning price * 1009% = ($111 - beginning price) / beginning price * 100Solve for the beginning price:
Beginning price = $111 / (1 + 0.09)Beginning price = $101.83The beginning price is $101.83. Now you can solve for the price you actually bought the stock by subtracting the dividend of $19 from the beginning price:Price bought = $101.83 - $19Price bought = $82.83
Therefore, you bought the stock for $82.83.
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What accounting book should a merchandising business use to show a payment and transaction history for each customer who bought items
with credit?
When a company has customers who buy units of merchandise on credit, its accountant will post entries in the ____
Answers
Answer:
Accounts receivable subsidiary ledger.
Explanation:
Answer: accounts receivable subsidiary ledger
Explanation:Specialized journals are useful when posting entries for frequent business transactions. For example, a cash receipt journal captures cash transactions. This is different from an accounts receivable subsidiary ledger, which shows a payment and transaction history for each customer who bought items with credit
Money held by the lender to pay homeowners insurance and property taxes is put in a fund called _____. A. Closing costs b. Commission c. Escrow d. Origination Please select the best answer from the choices provided A B C D.
Answers
Answer:
pretty sure it is c. escrow
Explanation:
The rate at which a business increases revenue from sales is
Answers
Answer:
There are only four ways to increase revenue in your business: increase the number of consumers, increase the average transaction size, increase the frequency of transactions per client, and raise your rates.
Explanation:
in the introduction saltage of the industry life cycle, the prime go of the marketing function is to:
Answers
In the introduction salt age of the industry life cycle, the prime go of the marketing function is to growth and decline.
According to the commercial characteristics that are frequently observed in each stage, the term "industry life cycle" depicts how an industry or corporation develops through four stages. Industries are founded when new products are developed, but it is unclear how big the market will be, what the products will look like, and who the main competitors will be. The advancement of a company or industry based on its stages of growth and decline is known as the industry life cycle. Consolidation and failure cut down an established industry as it grows, while the remaining rivals lower expenses as expansion slows and demand eventually wanes.
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Demand-pull inflation happens when the demand for goods
remains very low.
shifts up and down.
matches the supply.
increases.
Answers
Demand-pull inflation occurs at the time when the demand for goods increased.
The following information regarding the demand-pull inflation is:
It represents the imbalance impact with respect to the aggregate supply & demand. At the time when the aggregate demand outweighted the aggregated supply so the price should increased. Due to this, the demand should increased that means high prices.Therefore we can conclude that demand-pull inflation occurs at the time when the demand for goods increased.
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Answer:
Demand-pull inflation happens when the demand for goods increases.
Explanation:
option D
Oscar received his credit report and sees that his VantageScore is 400. Which factor could be the cause?
a
He filed for bankruptcy 15 years ago.
b
He has five credits cards with high balances.
c
He has a low debt-to-credit ratio.
d
He has applied for his first loan in his life.
Answers
Answer:
b. He has five credits cards with high balances.
Explanation:
A VantageScore is a credit score model that shows the probability that someone will pay the loans. A 400 VantageScore is very poor and people can get this score for different situations like bankruptcies as they will appear in your report for up to 10 years, having high utilization rates on your credit card and missing payments. According to this, the answer is that the factor that could be the cause is: he has five credits cards with high balances because he would have a high utilization rate which hurts the credit score.
The other options are not right because a bankruptcy appears in the report for up to 10 years, a low debt to credit ratio shows that you use your credit in a responsible form and it won't hurt your credit acore. Also, if someone doesn't have a credit history, there is no score because there is no data to define that.
the base of the corporate social responsibility pyramid is:
Answers
The base of the corporate social responsibility pyramid is economic responsibility.
The corporate social responsibility (CSR) pyramid is a framework that represents the different levels of responsibilities a company has towards society. At the base of the pyramid lies economic responsibility, which refers to a company's fundamental obligation to generate profits and provide economic value to its shareholders.
This includes activities such as producing quality products, delivering satisfactory customer service, and ensuring the financial sustainability of the business. Without fulfilling economic responsibilities, a company would struggle to address higher-level social and environmental responsibilities. Economic responsibility serves as the foundation upon which other CSR dimensions, such as legal, ethical, and philanthropic responsibilities, can be built.
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--The complete question is, The base of the corporate social responsibility pyramid is ________________.--
Lisa is choosing between three alternatives: a) working at her job that pays 60 dollars; b) writing a term paper which she values at 40 dollars; or c ) going out with a friend, which she values at 80 dollars. The opportunity cost of writing the tern paper is: 80 dollars. 140 dollars. 20 dollars. 0 dollars. Explain your reasoning: This ungraded area will provide insight to your instructor: 500 Characters remaining Which of the following is a decision that follows the net marginal benefit principle? Deciding whether to spend one more hour studying for an exam. Choosing to give up cating meat due to concerns regarding the treatment of animals. Deciding to order a dessert at a non-buffet restaurant more often than you have dessert at a buffet. Choosing among different roller coasters based on their distance from the theme park entrance. Explain your reasoning: This ungraded area will provide insight to your instructor.
Answers
In the given scenario, the opportunity cost of writing the term paper is 80 dollars. A decision that follows the net marginal benefit principle is deciding whether to spend one more hour studying for an exam.
Opportunity cost refers to the value of the next best alternative that is forgone when making a choice. In this case, Lisa has three alternatives: working ($60), writing a term paper ($40), or going out with a friend ($80). The opportunity cost of writing the term paper is the value of the next best alternative, which is going out with a friend ($80).
The net marginal benefit principle states that a decision should be made by comparing the additional benefits and additional costs associated with each option. Choosing to spend one more hour studying for an exam aligns with this principle.
By considering the net marginal benefit, one weighs the additional benefits of studying (such as improved exam performance) against the additional costs (such as time and effort) and decides whether the marginal benefit outweighs the marginal cost. This decision-making process based on net marginal benefit maximizes utility or satisfaction.
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Railroads and water services are examples of limited oligopolies natural monopoliesregional monopolies true monopolies
Answers
Railroads and water services are examples of natural monopolies. The correct answer is B.
A natural monopoly occurs when the cost of producing a good or service is lower when a single firm produces the entire output than when multiple firms produce the same output. In the case of railroads and water services, the cost of providing these services is very high due to the need for extensive infrastructure, such as tracks, pipelines, and water treatment plants.
This results in a situation where it is more efficient and cost-effective for a single firm to provide these services than for multiple firms to compete. As a result, natural monopolies often arise in industries where there are high fixed costs and significant economies of scale, making it difficult for new firms to enter the market and compete with existing firms.
Governments often regulate natural monopolies to prevent them from abusing their market power and to ensure that consumers have access to essential services at fair prices. Therefore, the correct option is B.
Railroads and water services are examples of
A. limited oligopolies
B. natural monopolies
C. regional monopolies
D. true monopolies
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________ leadership focuses on clarifying employees’ roles and task requirements and providing rewards and punishments contingent on performance.
Answers
Transactional leadership focuses on clarifying employees’ roles and task requirements and providing rewards and punishments contingent on performance.
Where is transactional leadership used?
Middle management levels in major firms are the principal users of transactional leadership. According to this leadership theory, accomplishing agreed-upon responsibilities successfully results in monetary remuneration, job security, or promotions, as well as intangible benefits like praise and recognition.
Why is transactional leadership important?
Transactional leaders are really clear. Employees are fully aware of what their boss expects of them. They feel successful in achieving their clearly stated goals and objectives as a result. When collective performance matters, this results in effective leadership.
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Police are investigating the site of a convenience store robbery. The glass door was
broken, and it looks as if several packages of cigarettes are missing from behind the
counter. One police officer notices a man walking past the store and gets an odd
feeling about him. He stops the man and insists on searching his pockets. Inside the
man's pockets, police find several packs of cigarettes. They arrest the man and
charge him with the crime. Unfortunately, the judge throws out the charges. What is
MOST likely the judge's reason for dismissal?
A-The man is under 18 years old.
B-The man did not have money to post bail.
C-The policeman did not have probable cause to search the man.
D-The policeman did not have enough evidence that the man was the robber.
Answers
The MOST likely judge's reason for dismissal is the policeman did not have enough evidence that the man was the robber. Thus the correct option is D.
What is Robbery?Theft or robbery is defined as the stealing of someone else's property without their permission and using force or a threat of force that exhibits fear in them to perform any action against them.
To prove a crime against someone requires one to submit enough evidence which helps to establish the claim as the justice system is based on evidence not on arguments.
In the given case, police found the activity of the men suspicious as they found cigarette packets from him. There is no evidence that he has stolen the cigarette packets might be possible he has purchased them.
So due to a lack of evidence against the person the Judge dismissal the case. Therefore, option D is appropriate.
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Which of the following statements is true? a. A college degree does not influence the earnings of workers. b. The median pay of economics majors increased more in dollar terms than any other majors in 2015. c. People with 0–5 years of work experience earn more than people with 10–20 years of work experience in all major fields. d. Students majoring in economics earned more than students majoring in engineering in the U.S. in 2015.
Answers
Answer:
b. The median pay of economics majors increased more in dollar terms than any other majors in 2015.
Explanation:
As it can be seen from the various sources that tha major in economics represents the largest per dollar rise for all major in the year 2015
Due to which it brings down the requirement for more economists also the word economics is not certain. Also, for the entry level jobs in the economics field, the minimum qualification should be masters
Therefore according to the given case, the option B is correct
is your last chance to make sure your document is ready to carry your message-and your reputation to the intended audience.
Answers
When the demand for loanable funds exceeds the supply of loanable funds, households want to save less than firms want to invest and the interest rate rises.
Answers
When the demand for loanable funds exceeds the supply of loanable funds, households want to save less than firms want to invest and the interest rate rises. This statement is true.
About the demand for loanable fundsWhen the demand for loanable funds is greater than the supply of loanable funds, households desire to save less than firms want to invest, according to the loanable funds market model. As a result, the interest rate rises because lenders have a greater chance of locating willing borrowers willing to pay more interest.
The loanable funds market is the place where lenders and borrowers come together to borrow and lend funds. The supply of funds comes from households who are saving their cash, while the demand for funds comes from businesses and governments who want to invest in capital projects. The market interest rate is determined by the intersection of the supply and demand curves.
Your question is incomplete but most probably your full question was:
Determine True or False: When the demand for loanable funds exceeds the supply of loanable funds, households want to save less than firms want to invest and the interest rate rises.
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What information system would be most useful in determining what direction
to go in the next two years?
O A. Transaction processing system
B. Decision support system
C. Executive information system
D. Management information system
Answers
Answer:
C- Executive information system
Explanation:
AP3X
U.S. beer manufacturers want to increase exports of beer to Canada by lowering the price of U.S. beer in Canada. For this to happen, you advise your clients to ask the United States to approach Canada about
a)imposing a tariff.
b) removing an export quota. c)removing a tariff.
d) imposing an import quota.
Answers
You suggest to your customers that in order for this to occur, the United States should speak with Canada about reducing a tariff. (Choice c)
Why do you use the word tariff?A tariffs is a levy imposed on the import or export of products by the administration of a nation or by a transnational union. Import tariffs can regulate international trade and serve as a means of supporting or defending home business in addition to providing the government with cash. The word "tariff" comes from the French "tarif," which means "set price." Italian "tariffa," which means "required price; schedule for taxes and customs," comes from Medieval Latin "tariffe," which means "fixed price."
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What sports have been founded by an entrepreneur?
Answers
An individual who plans, manages, and takes on the risk of a sport-related business enterprise is known as a sports entrepreneur. There are numerous instances of professional players succeeding in business after leaving sports.
The most well-known professional sport players who successfully transitioned from athletics to entrepreneurship include Payton Manning, David Beckham, John Elway, Magic Johnson, and Venus Williams, to name just a few. Many of you are familiar with his court movements. It is less typical to be aware of his entrepreneur side. However, how many companies does Shaq actually own? Even though the solution is not obvious, it is still amazing.
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Insurance can help with ???
Answers
Answer:
B. In an emergency
Explanation:
Insurance is purchased to protect things that you own
a stock with a beta of 0.9 has an expected rate of return of 10%. if the market return this year turns out to be 8 percentage points below expectations, what is your best guess as to the rate of return on the stock? note: do not round intermediate calculations. enter your answer as a percent rounded to 1 decimal place.
Answers
6% rate of return on the investment if a markets return this year is 8 percentage points less than anticipated.
What do you means by stock?The term "stocks" refers towards the based on past of any corporation. Contrarily, a share alludes to the share certificate of a certain firm. You are regarded as a shareholder when you own shares in a certain company. Common and preferred stocks are the two kinds.
Briefing:A stock with a beta =0.9
The expected rate of return =10%
Market return turnout = 8%
Now,
Rf = risk free return
Rp = risk premium =Rm -Rf
β = 0.9
Thus
The expected return R = Rf +β *Rp
= Rf +β * (Rm -Rf)
R = Rf +0.9 (Rm -Rf)
=Rf + 9 times risk premium
So,
The market turns by 8%
R = Rf +0.9 (Rm -8%-Rf)
=Rf + 9 Rm-16%-2Rf
Then
The expected return is reduced by 16%
Hence,
16% -10% =6%
Therefore the expected rate of return on the stock is 6%.
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Arnez Company's annual accounting period ends on December 31. The following information concerns the adjusting entries to be recorded as of that date. a. The Office Supplies account started the year with a $4,000 balance. During the year, the company purchased supplies for $13,400. which was added to the Office Supplies account. The inventory of supplies available at December 31 totaled $2,554
Answers
There was $4,000 in the Office Supplies account at the beginning of the year. The company spent $13,400 on supplies throughout the year. which the Office received.
What do you mean by account?
account. 1 of 2 noun. ac count.: a record of debit and credit entries to cover transactions involving a specific item (such as cash or notes receivable) or a specific person or concern.: a statement of transactions throughout a fiscal period displaying the resulting balance.
The three-year Bachelor of Commerce in Accounting programme, sometimes known as BCom Accounting, focuses on accounting and auditing. Class 10+2 completion from a recognised educational institution with a minimum grade point average of 45% is required for eligibility in the BCom Accounting programme.
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At a local play, student tickets cost $6 each and adult tickets cost $11 each. If ticket sales were $3,000 for 400 tickets, how many students attended the play?.
Answers
At a local play, student tickets cost $6 each and adult tickets cost $11 each. If ticket sales were $3,000 for 400 tickets, 280 students attended the play.
given data:
student tickets cost = $6
adult tickets cost = $11
total ticket sales = $3,000
tickets sold = 400
let us assume students is x
the cost of x ticket = 6 * x
the equation will be,
6x + 11(400 - x) = 3000
6x + 4400 - 11x = 3000
4400 - 5x = 3000
by subtracting with 4400 on both sides
4400-5x-4400=3000-4400
-5x = -1400
x = 280
so the students will be 280
A sale is a deal that involves exchanging products or services for a certain sum of money. Every firm depends on sales and marketing to succeed. Targeting a contact and creating leads for the company are the first steps in the sales process for BPO sales teams. They help to generate money since they are interconnected. In other terms, a sale is any action that includes giving the buyer possession of a thing or commodity in return for money. While sales transform views into profits by turning potential consumers into real customers, marketing focuses on increasing awareness of a brand and organisation.
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what is the southernmost forest in the continental us?
Answers
The southernmost forest in the continental US is the Chihuahuan Desert forest. This forest is located primarily in Mexico but stretches into Arizona, Texas, and New Mexico in the United States. Chihuahuan Desert forest spans roughly 140,000 square miles, and its primary vegetation is shrubs, grasses, and trees such as mesquite, oak, juniper, and piñon pine. Additionally, the forest is home to several unique species, including the Chiricahua leopard frog, the Mexican wolf, and the pronghorn.
What is a forest? A forest is a large area of trees that are densely packed together, typically thousands of acres or more. A forest's biodiversity and ecological services are essential to life on the planet, as they provide oxygen, clean air, water filtration, and carbon sequestration, among other things.
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Which quality of accounting information states that the information is verifiable and is not subject to opinion.
Answers
Reliability!
Hope this helps, Good luck! :)
What can a boosted post help an advertiser achieve?
Answers
A boosted post helps an adviser to connect with the audience and gain trust.
Boosted post is a kind of post that is used on social media platforms in order to enhance the page of the platform and to attract audience to the page. Boosted post can help better communication with the audience along with the increase in a greater number of messages, calls and texts. Boosted posts help for better advertisements of the product. For example, A Chocolate brand may use Boosted posts to gain audience as well as consumers. Boosted posts helps an adviser to be discovered among people, to establish a benchmark in the market and to gain more and more customers. It's a kind of marketing strategy used for publicity purpose.
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Deciding what is most important for your budget is a process known as :
A) prioritization
B) reconciliation
C) tracking
D) budgeting
E) None of the above
Answers
The most important for your budget is a process known as prioritization, Because It would be the most important as you set the priority on food, and gas.
What is a budget?A budget You can prepare for your income and expenses over the course of a specific time period using a budget. Making a monthly budget, for instance, considers where your income and expenses will go each month. "A budget is frequently a dirty term or has a nasty ring to it.
Simply said, a budget is a spending plan that accounts for both present and future sources of income and expenses. A budget ensures that your spending is under control and that your savings are on track for the future.
The term Prioritization refers to that, arranging activities in order of importance relative to each other. In the context of medical evaluation, it is the establishment of the importance or the urgency of actions
Therefore, Thus option (A) is correct.
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What’s the answer to this question??
Answers
i'm pretty sure it's listening and talking but i may be wrong.
when ordering raw materials of steel and aluminium the business is considering changing to jit advise them if its a good idea or not
Answers
The advantages the business gets if they change to JIT are
reduction in inventory costImprovement in qualityIncrease in efficiencyThe Advantages:Decisions on whether or not to implement a Just-In-Time (JIT) inventory system for steel and aluminum raw material depend on many variables such as business size, market demand, lead time and supplier reliability. Here are the potential advantages and disadvantages of JIT inventory in such situations:
JIT helps businesses reduce inventory holding costs as raw materials are only ordered as required, thus freeing up cash flow for other investments and creating greater cashflow opportunities.
Quality Improvement: Just-In-Time production methods provide greater quality assurance as materials can be purchased in smaller batches that can then be thoroughly inspected upon their arrival.
Increased Efficiency: Just-In-Time ordering helps shorten lead times as raw materials are ordered only when necessary for production; leading to greater productivity gains overall.
Disadvantages of Just in Time production (JIT):
JIT requires businesses to become increasingly dependent on suppliers for materials delivery on time or at required quality levels; any supplier failure could create major disruption in operations and create costly supply issues for business operations.
Transportation Costs Increase with JIT Delivery Frequencies: JIT deliveries often necessitate more frequent delivery trips, which increases transportation expenses.
Difficulties Responding to Unexpected Changes: JIT requires accurate forecasts for demand and lead times
Requiring an efficient supply chain: JIT requires close cooperation between businesses and suppliers in the supply chain.
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select all that apply when preparing the operating activities section of the statement of cash flows using the indirect method blank . multiple select question. items that do not affect cash flow are removed from net income. only cash payments for expenses are reported cash collected from customer is reported instead of revenues net income is adjusted to a cash basis
Answers
When preparing the operating activities section of the statement of cash flows using the indirect method, the following options apply (multiple select question):
- Items that do not affect cash flow are removed from net income.
- Only cash payments for expenses are reported.
- Cash collected from customers is reported instead of revenues.
- Net income is adjusted to a cash basis.
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