Suppose that two firms are Cournot competitors. Industry demand is given by:P = 200 − q1 − q2 where q1 is the output of Firm 1 q2 and is the output of Firm 2. Both Firm 1 and Firm 2 face constant marginal and average total costs of $20.
Solve for the Cournot price, quantity, and firm profits.
P = 200 − q1 − q2
Answers
The Cournot equilibrium in this scenario is characterized by a price of $80, each firm producing 60 units of output, and both firms earning profits of $3600.
To solve for the Cournot equilibrium, we need to find the quantities produced by both firms (q1 and q2) and then calculate the corresponding price (P) and firm profits.
To find the quantities, we start by assuming that each firm chooses its output level to maximize its profits, taking the output of the other firm as given. In Cournot competition, each firm assumes that its competitor's output will remain constant.
To find the equilibrium quantities, we differentiate each firm's profit function with respect to its own output and set the derivatives equal to zero. Since both firms have the same cost structure, their profit-maximizing output levels will be the same.
Solving the equations, we find that q1 = q2 = 60. Substituting these values into the demand function, we can calculate the Cournot price:
P = 200 - q1 - q2
= 200 - 60 - 60 = 80.
To calculate firm profits, we subtract the total cost from the total revenue for each firm. Since the average total cost is $20 and the quantity produced by each firm is 60, the profit for each firm is
(P - AC) * q = (80 - 20) * 60
= $3600.
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Related Questions
what is the importance of the floriculture in nepal
Answers
Explanation:
It deals with cut flowers, bedding plants, houseplants, flower garden, pot plants, cultivated greens for beauty and herbaceous nursery. Floriculture is an important agro-based, labor intensive and business-oriented enterprise in Nepal.
Answer:
It deals with cut flowers, bedding plants, houseplants, flower garden, pot plants, cultivated greens for beauty and herbaceous nursery. Floriculture is an important agro-based, labor intensive and business-oriented enterprise in Nepal.
Please help worth bonus points!
Answers
Answer:
the 4th and 5th one is for france
Explanation:
this is done in france France, it is called french silver service, it's a method of food service at the table, it's known as à l'anglaise (English service)
4=the staff utilizes platters to serve cooked food
5=the last one
1= america, the first one.
2=Russia
3=russia
if I got anything mixed up, pls inform me.
The chart shows a combined supply and demand schedule.
A 3-column table has 5 rows. The first column is labeled Price per Pair of Running Shoes with entries 45 dollars, 75 dollars, 100 dollars, 125 dollars, and 150 dollars. The second column is labeled Quantity Demanded with entries 100, 80, 60, 40, 20. The third column is labeled Quantity Supplied with entries 40, 50, 60, 70, 80.
According to this table, what will happen when the price of a pair of shoes rises from $100 to $125?
The cost to make a pair of shoes will rise.
A scarcity of shoes will result.
Profits from selling shoes will increase.
Consumers will want to buy fewer pairs of shoes
Answers
Answer:
Consumers will want to buy fewer pairs of shoes
Explanation:
Minakshi and kanchal are two real sisters.Minachi is an author and kanchan a business woman.Kanchan
has developed a new technique which is very useful for their business. Both the sisters are experts in
their respective fields. Minakshi learnt from someone that some people were coping her written work
(literary creation). Kanchan also learnt from some that the other businessmen were taking advantage of
their creations. One of their lawyer friends advised them that both of them were the owners of a special
property and the government had provided them with a legal security they could get rid of their worry
by taking advantage of this facility.
Answer the following questions related to the above paragraph:
1.Which particular property is possessed by both the sisters?
2.To which class belongs Minakshi’s property?
3.To which class belong Kanchans property?
Answers
These are the answers for the questions related to the text about Minakshi and Kanchan:
The particular property possessed by both sisters is Intellectual property.Minakshi's property belongs to the literary and artistic work class.Kanchan's property belongs to the industrial class property.Intellectual propertyThis text about the sisters Minakshi and Kanchal refers to the particular property called Intellectual property, which is a property that includes the creations of the human intellect, everything that was created by the person's mind.
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In response to the greatest financial crisis since the Great Depression of the 1930s, the ______ administration proposed to overhaul regulation and increase oversight of the financial system.
Answers
Answer:
In response to the greatest financial crisis since the Great Depression of the 1930s, the Obama administration proposed to overhaul regulation and increase oversight of the financial system.
Explanation:
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when a sweatshirt manufacturer states, "we sell it only in gray because that way we can buy plenty of gray fabric and run our plant efficiently," its statement reflects the views that were popular in which era of the evolution of marketing?
Answers
The statement "we sell it only in gray because that way we can buy plenty of gray fabric and run our plant efficiently," reflects the views that were popular in which era of the production-oriented evolution of marketing
What was the era of the production-oriented?This era was when the production orientation business dominated the market from the beginning of Capitalism to the mid 1950's. The prior idea was that a good quality product would simply sell itself.
But, this production-oriented approach worked for many organizations during this Era because of strong demand and limited supply of product.
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when the aggregate curve shifts to the right, both unemployment and inflation are reduced. (choose between demand or supply).
Answers
When the aggregate curve shifts to the right, it is typically due to an increase in either demand or supply. If the shift is due to an increase in demand, then both unemployment and inflation may be reduced.
This is because an increase in demand means that businesses are selling more goods and services, which can lead to increased production and hiring of workers. As unemployment decreases, competition for workers may increase, leading to higher wages and prices.
However, if the shift is due to an increase in supply, then the reduction in unemployment and inflation may be even greater. This is because an increase in supply means that businesses are able to produce more goods and services at a lower cost, which can lead to lower prices and increased hiring of workers. Ultimately, the impact of a rightward shift in the aggregate curve on unemployment and inflation will depend on the specific factors driving the shift.
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twitter provides a platform where businesses can create advertising campaigns
Answers
Answer:
ok?
Explanation:
A speed boat bought for $13,000 depreciates at 10% per annum compounded continuously. What is its value after 7 years? Round the answer to nearest dollar.
Answers
Answer:
6,456
Explanation:
Substitute the given values into the formula: A=Pe^-rt, where A represents the future value and P represents the initial (current) value.
The amount of value after 7 years when the purchase value of the speed boat is $13,000 should be considered as the $6,456.
Calculation of the amount:Since the speed bought purchase value is $13,000
The depreciation rate is 10% per annum compounded continuously
The time period is 7 years
So here the amount should be
= $13,000 * e^-0.70
= $6,456
hence, The amount of value after 7 years should be considered as the $6,456.
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how do you become popular
Answers
Answer:
Spread the word; advertisements
Explanation:
In order to get popular you need to spread the word about your business, you needadvertisementst,s and sometimes even create your own website. Some website makers include Wix.
explain purpose of visual aids
Answers
When there is a market failure, the market outcome is not socially optimal.
true or false?
Answers
Answer: True
Explanation:
At a socially optimal market outcome, the price of goods and services would incorporate all the costs and benefits of producing it including the third party benefits and costs known as Externalities.
When market failure occurs, it is because individual actions have resulted in an inefficient allocation of resources which means that the goods and services on offer will not adequately include the costs of producing gods and services. This is not a socially optimal outcome so the statement above is true.
How is being comfortable with risk and flexibility important to having an entrepreneurial mindset?
Answers
An entrepreneurial mindset is a set of skills that enable people to identify and make the most of opportunities, overcome and learn from setbacks, and succeed in a variety of settings. This means that being too stubborn and unyielding in your approach can be a recipe for stress and potential business disaster. Being flexible as an entrepreneur can provide you with an important competitive edge. It helps you to exploit opportunities as and when they arise. Successful entrepreneurs stick to the basic principles of risk management: They look for opportunities where if they fall short they lose only a certain value, but if they win they could stand to gain 10 times as much. And the best entrepreneurs never bet more than they can afford to lose. They always consider Plan B (as well as Plan C, D and E) in case the current program doesn’t work out as expected.
Hope that this gives some insight on the topic :)
The financial records of Sheffield Inc. were destroyed by fire at the end of 2020. Fortunately, the controller had kept certain statistical data related to the income statement as follows. 1. The beginning merchandise inventory was $99,360 and decreased 20% during the current year. 2. Sales discounts amount to $18,700. 3. 19,090 shares of common stock were outstanding for the entire year. 4. Interest expense was $20,400. 5. The income tax rate is 30%. 6. Cost of goods sold amounts to $460,000. 7. Administrative expenses are 20% of cost of goods sold but only 8% of gross sales. 8. Four-fifths of the operating expenses relate to sales activities. From the foregoing information prepare an income statement for the year 2020 in single-step form. (Round earnings per share to 2 decimal places, e.g. 1.48.)
SHEFFIELD INC.
Income Statement
Answers
Based on the information given SHEFFIELD INC. income statement is $133,630.
Income statementSHEFFIELD INC. income statement for the year ended December 31 2020
Revenues
Net sales $1,131,300
[(20%×$460,000)÷8%-$18,700[]
Expenses
Cost of goods sold $460,000
Selling expenses $368,000
[(5×$92,000)-$92,000]
Administrative expenses $92,000
(20%×$460,000)
Interest expense $20,400
Total expense $940,400
Income before income tax $190,900
( $1,131,300-$940,400)
Income tax expense $57,270
(30%×$190,900)
Net income/Loss $133,630
($190,900-$57,270)
Earning per share $7
( $133,630/$19,090)
Inconclusion SHEFFIELD INC. income statement is $133,630.
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Q: Data privacy may not be applicable in which of the following
scenarios?
a. An app targered at children for
entertainment b. A platform developed purely for knowledge exchange with no
motive of fi
Answers
Given that no personal information is being gathered or shared on scenario 4's website, where knowledge is shown and anonymous access is allowed, data privacy laws might not apply.
Data privacy regulations are created to guard against unlawful access, use, or disclosure of personal data. These regulations can differ from one nation to another, but they typically call for businesses to put specific safeguards and procedures in place to secure the personal data they gather, use, or store.
The gathering and use of children's personal information may be governed by particular rules under scenario 1, which involves an app geared toward entertaining kids. Organizations must make sure they abide by these rules in addition to the basic data privacy laws because they may be stricter than those for adult users.
In case 2, a platform created solely for the exchange of knowledge without any consideration for financial data may not collect any personal information from users and hence may not be governed by data privacy rules. However, other rules and laws, including those governing intellectual property or online expression, may still apply to the platform.
In case three, a platform may be governed by the data privacy rules of the nation where the data subjects are located even when it is targeted at individuals from a nation with strict data privacy regulations. The platform will therefore need to make sure that they abide by such laws.
In case four, there might be no need to gather personal data from users because the website displays knowledge and permits anonymous access. As a result, the website could not be covered by laws governing data privacy. To ascertain the precise needs of your website or platform, it's crucial to speak with legal authorities.
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Correct question:
Data privacy may not be applicable in which of the following scenarios
1. an app targeted children for entertainment
2. a platform developed purely for knowledge exchange with no motive of financial info
3.a platform hosted in a country with no dp laws but targeted at the dat subject from a country with stringent law
4. a website demonstrate knowledge and allow anonymus access
Organizations use marketing research to gather data about _____. (Select all that apply)
their customers
new products they are considering
employees they want to hire
their customers’ preferences
Answers
Answer:
b and d
Explanation:
because i know
The public company accounting reform and investor protection act of 2002 is known as the:.
Answers
It should be noted that Sarbanes-Oxley Act serves as act for public company accounting reform and investor protection act of 2002.
What is Sarbanes-Oxley Act ?The Sarbanes-Oxley Act of 2002 can be regarded as a federal act which was set up for sweeping auditing as well as financial regulations for public companies.
It was put in place to protect shareholder as well as the public from accounting fraudulent financial practice.
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An individual who would like to become an entrepreneurial database administrator would most likely start a business by _________________.
Question 1 options:
freelance writing for different companies
creating a startup computer repair business
offering database development and design services
begin painting abstract art
Answers
An entrepreneurial database administrator would most likely start a business by offering database development and design services.
Who is an entrepreneur?An entrepreneur is a person that take a risk of setting up a business or businesses and taking on financial risks so as to make profit.
Therefore, as entrepreneurial database administrator, one would need to broaden his knowledge on database development.
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The GDP in Germany is $3.69 trillion. The rate of
inflation is 2.5%. If the population of Germany is
82,658,000, find the per capita GDP in this country.
per capita GDP = $ [?]
Round to the nearest hundredth.
Answers
The per capita GDP in Germany is approximately $44,636.67.
Per capita GDP refers to the average economic output per person in a country. It is calculated by dividing the total GDP of a country by its population, providing an indicator of the economic well-being on an individual level.
To find the per capita GDP in Germany, we can divide the total GDP by the population.
Per Capita GDP = Total GDP / Population
Given that the GDP in Germany is $3.69 trillion and the population is 82,658,000, we can calculate:
Per Capita GDP = $3.69 trillion / 82,658,000
= $44,636.67.
Therefore, the per capita GDP in Germany is approximately $44,636.67.
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If the required reserve ratio is 10 percent, currency in circulation is $400 billion, checkable deposits are $1000 billion, and excess reserves total $1 billion, then the monetary base is.
Answers
The monetary base is $501 billion if the required ratio is 10%.
What is the Monetary base?
We know that,
M1 Multiplier
=1+c/r+c+e
Monetary base is =r+c
hence it becomes 501 billion
An essential idea in monetary economics is shown by the definition of the monetary base. Every nation has a central bank that creates, regulates, and oversees the flow of currency. For instance, the US monetary base is managed by the Federal Reserve, which is the country's central bank.Open market operations or conventional monetary policy measures are used by central banks to regulate the MB. For instance, the US's MB value varies when the Federal Reserve buys and sells US Treasury Bonds. through making open-market purchases of government bonds.To learn more about the monetary base refer to:
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This is really for Economics but...
How are wages affected by the market?
Answers
Answer:
They could help give stock to the store/s that's using them. Or, they are the ones getting money for the produce or business, but it helps them get more and more resources for their store.
Explanation:
Answer:
Economists argued that wages are determined by demand and supply.They called it the theory of wage determination They said The price of labor is determined in the free market like every other price by intersection,Supply and demand.
Explanation: that took me a moment to think that out for it to be understandable so it doesn't disorient you
Identify the problem by analyzing the given scenario. An IT software company is losing market share because it fails to launch new products in a timely manner. Decisions are centralized at the top, and employees have little or no voice. One way to solve this problem is to use teams to eliminate ____ in the company.
Answers
Explanation:
to eliminate their best efforts in the company
Answer:
"bureaucratic barriers"
Explanation:
i got it right on plato
Baako Ltd purchase motor vehicle as follows date 01/01/13 800,000$,01/01/13 400,000$,01/04/15 600,000. The company adopts straight line method of depreciation at the rate 10% per annum from the date of purchase separate account is prepared for provision for depreciation. On 30th June, 2014 the motor vehicle which was purchase on 1st July was sold for 24,000$. You are required to prepare (a) motor vehicle account for the years 2013,2014 and 2015. (b) motor vehicle disposal account.
Answers
Baako Ltd purchase motor vehicle as follows date 01/01/13 800,000$,01/01/13 400,000$,01/04/15 600,000. The company adopts straight line method of depreciation at the rate 10% per annum from the date of purchase separate account is prepared for provision for depreciation. On 30th June, 2014 the motor vehicle which was purchase on 1st July was sold for 24,000$. You are required to prepare (a) motor vehicle account for the years 2013,2014 and 2015. (b) motor vehicle disposal account.
You have data for regions, products, and customers. Which option on a pivot table will you find in the fields list?.
Answers
The option on a pivot table is the Analyze option where one can find the Fields list.
Analyse optionA pivot tableIt is a table of grouped values that aggregates the individual items of a more extensive table within one or more discrete categories. This summary might include sums, averages, or other statistics, which the pivot table groups together using a chosen aggregation function applied to the grouped values.
Therefore, the answer is an analyze option.
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on august 1, luang corporation signed a $30,000, 14%, 2-year note to help finance renovations being made to the corporation headquarters. assuming interest is accrued only when the year ends on december 31, the appropriate journal entry for the first year would be:
Answers
The journal entry for Luang Corporation getting a $30,000 note to help with finance renovations is:
Date Account Title Debit Credit
Dec. 31 Interest Expense $1,750
Interest Payable $1,750
The interest will be based on a period of 5 months because it was only acquired in August so will accrue from August to December.
The interest will therefore be:
= Amount x 5 months interest
= 30,000 x 14% / 12 months x 5 months
= $1,750
Expenses are debited so the interest expense will be debited. As interest is a liability, it will be credited to the interest payable account.
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the applications of analytics are not just limited to business but extend to a wide-array of human activity. group of answer choices true false
Answers
The statement is true because analytics applications extend beyond business to encompass a wide array of human activities.
Analytics can be used in healthcare to predict disease outbreaks or improve patient care, in sports to enhance athlete performance, and in education to personalize learning experiences.
Additionally, analytics can be applied to transportation for optimizing traffic flow, to environmental management for predicting natural disasters, and to social sciences for understanding human behavior.
These are just a few examples of how analytics can have a significant impact on various aspects of human life, demonstrating its versatility and widespread applicability.
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a market research firm calls a simple random sample of customers to determine whether they are satisfied with their current internet service provider. out of 500 people surveyed, 389 say they are satisfied. if we are going to create a confidence interval for the percent of customers in the population who are satisfied, we will need a box model. The number of tickets in the box labeled 1 is a quantity that is:___________
Answers
In order to create a confidence interval for the percent of customers in the population who are satisfied, based on a market research firm calling a simple random sample of customers, we will need a box model. The number of tickets in the box labeled 1, which represents the satisfied customers, is a quantity that is 389.
The mean of your estimate minus the variation in that estimate is called a confidence interval. This is the scope of values you anticipate that your gauge should fall between on the off chance that you re-try your test, inside a specific degree of certainty. In statistics, confidence is another way to talk about probability.
This is because 389 out of 500 people surveyed said they are satisfied with their current internet service provider.
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Why is the price floor above the equilibrium point and the price ceiling below the equilibrium point? Please explain as well!
Answers
Answer:
THE GIVEN STATEMENT IS WRONG.
The prices and the quantities of the products are usually set up by considering demand and supply. Sometimes, people may not agree with the price of a certain thing. Due to these reason, the government may set a maximum and minimum price limits on a product so it always remains in a certain range.
The upper limit is Price Ceiling. When a Price Ceiling is set below the equilibrium point, the demand will exceed the supply and shortages will occur.
The lower limit is Price Floor. When a price floor is set above the equilibrium point, the supply will exceed the demand, resulting in surplus quantity of a product
Lily runs a painting business. She has two experienced interior painters. One painter can paint a 300-square-foot room in 200 minutes. The other worker can paint a 300-square-foot room in 300 minutes.
If the painters work together, they can paint a 300-square-foot room in
minutes
Answers
If the two painters work together, they can paint a 300-square-foot room in 120 minutes (or 2 hours).
To solve this problem, we can use the formula: Time = Work ÷ Rate
where "Work" is the amount of painting needed to be done (in this case, 300 square feet), and "Rate" is the rate at which each painter can complete the job (in terms of square feet per minute).
Let's find the individual rates of each painter first:
Painter 1: Rate = Work / Time = 300 sq ft / 200 min = 1.5 sq ft/min
Painter 2: Rate = Work / Time = 300 sq ft / 300 min = 1 sq ft/min
To find the combined rate of both painters working together, we can add their individual rates:
Combined rate = 1.5 sq ft/min + 1 sq ft/min = 2.5 sq ft/min
Finally, we can use the formula again to find the time it takes for both painters to complete the job:
Time = Work ÷ Rate = 300 sq ft ÷ 2.5 sq ft/min = 120 minutes
Therefore, if the two painters work together, they can paint a 300-square-foot room in 120 minutes (or 2 hours).
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Tickets to a fundraiser are $14 if purchased ahead of time and $25 if purchased at the door. The total amount raised from all ticket sales was $625. If eleven tickets were purchased at the door, how many tickets were purchased ahead of time?.
Answers
($14)(25)=$350
($25)(11)=$275
$350+$275= $625