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- PROBLEM SOLVING Below is a data of the per-unit costs incurred by a competitor in selling face mask per pack (5 masks per pack) per day. Output (in packs) AFC (P) AVC (P) ATC (P) MC (P) 60.00 45.00 42.50 1 105.00 45.00 2 30.00 72.50 40.00 20.00 35.00 40.00 37.50 60.00 52.50 4 15.00 30.00 12.00 37.00 37.50 49.00 47.50 35.00 40.00 10.00 7 8.57 38.57 47.14 45.00 8 7.50 6.67 40.63 48.13 55.00 65.00 75.00 50.00 9 10 43.33 46.50 6.00 52.50 1. Assuming that the product's price is P58 per pack, should the competitor sell in the short-run Why or why not? If it decides to sell, what will be the profit-maximizing (or loss-minimizing output per day)? What is the profit (or loss) that the seller can realize per day? What is the profit (or loss) per pack? A. Assuming that the product price is P42 per pack, answer the same questions in letter A. B. Because of increasing sellers of masks in the market, the product's price further decreased to P32 per pack. Again, answer the same questions in letter A.…How does Nokia's wrong strategic response to changing market conditions cope with economic decision's concepts, such as rational-actor paradigm, fail to create value, sunk cost/hidden cost fallacy, adverse selection, extent decision, elasticity, etc.?The global pandemic 2020 has promoted a race to capture the market for introducing effective vaccine and treatments. a. If PFIZER is the sole vaccine provider given the following information, answer the questions below: Output Price/Unit Total Cost 1 5500 1000 2 5000 1200 3 4500 1500 4 4000 2500 5 3500 4000 6 3000 5700 7 2500 7500 8 2000 9400 9 1500 11400 10 1000 13500 Given the tabular information above find the profit-maximizing output and price also illustrate the same using the two-dimensional labeled diagram. Show the calculation as well. b. Assume if many firms enter into the business of providing vaccine determine: How the demand curve of PFIZER would change and how it would now maximize its profit? The kind of market structure now PFIZER…
- Panther 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…The global pandemic 2020 has promoted a race to capture the market for introducing effective vaccine and treatments. If FARTER is the sole vaccine provider given the following information, answer the questions below: Output Price/Unit Total Cost 1 5500 1000 2 5000 1200 3 4500 1500 4 4000 2500 5 3500 4000 6 3000 5700 7 2500 7500 8 2000 9400 9 1500 11400 10 1000 13500 Given the tabular information above find the profit-maximizing output and price also illustrate the same using the two-dimensional labeled diagram. Show the calculation as well. Assume if many firms enter into the business of providing vaccine determine: How the demand curve of FARTER would change and how it would now maximize its profit? The kind of market structure now FARTER is forced to…Cornell Pharmaceutical, Inc., and Penn Medical, Ltd., supply generic drugs to treat a wide variety of illnesses. A major product for each company is a generic equivalent of an antibiotic used to treat postoperative infections. Proprietary cost and output information for each company reveal the following relations between price (marginal cost) and output: P = $10 + $0.004Qc (Cornell) P = $8 + $0.008 Qp (Penn) 1. Assuming these two firms make up the entire industry, determine the industry supply curve when P < $10. 2. Determine the industry supply curve when P > $10.
- If a firm undertakes an action as strategic behavior, then that action must involve a sunk cost. true/ false question Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism.Answer completely.You will get up vote for sure.The global pandemic 2020 has promoted a race to capture the market for introducing effective vaccine and treatments. a)- If PFIZER is the sole vaccine provider given the following information, answer the questions below: Output Price/Unit Total Cost 1 5500 1000 2 5000 1200 3 4500 1500 4 4000 2500 5 3500 4000 6 3000 5700 7 2500 7500 8 2000 9400 9 1500 11400 10 1000 13500 Given the tabular information above find the profit-maximizing output and price also illustrate the same using the two-dimensional labeled diagram. Show the calculation as well. (use excel) b)- Assume if many firms enter into the business of providing vaccine determine: How the demand curve of PFIZER would change and how it would now maximize its profit? The kind of market structure now PFIZER is forced to operate in? Also, illustrate the same using…Below is a data of the per-unit costs incurred by a competitor in selling face mask per pack (5 masks per pack) per day. AFC (P) AVC (P) Output (in packs) 0 1 2 3 4 5 6 7 8 9 10 60.00 30.00 20.00 15.00 12.00 10.00 8.57 7.50 6.67 6.00 45.00 42.50 40.00 37.50 37.00 37.50 38.57 40.63 43.33 46.50 ATC (P) 105.00 72.50 60.00 52.50 49.00 47.50 47.14 48.13 50.00 52.50 MC (P) 45.00 40.00 35.00 30.00 35.00 40.00 45.00 55.00 65.00 75.00 A. Assuming that the product's price is P58 per pack, should the competitor sell in the short-run? Why or why not? If it decides to sell, what will be the profit-maximizing (or loss-minimizing output per day)? What is the profit (or loss) that the seller can realize per day? What is the profit (or loss) per pack? B. Assuming that the product price is P42 per pack, answer the same questions in letter A. C. Because of increasing sellers of masks in the market, the product's price further decreased to P32 per pack. Again, answer the same questions in letter A. D.…
- A 100-miles long highway connects two landmarks, A and B. 10000 households are uniformly dis- tributed along this highway and have a round-trip travel cost of $1 per mile. a) A single household has a valuation of $40 per family cinema ticket. A for-profit cinema-chain has a cost to open a cinema theater of $50000. Find the optimal number of cinema theaters. b) A single household has a valuation of $40 for a picnic in a park. The state wants to open a few paid parks along the highway that will be funded by taxpayers. Each park requires $50000 to be constructed. How many parks should the state open?For the table given below. Calculate TC, AFC, AVC and MC and show diagrammatically. L TFC (S) | TVC (S) 19.53 1 200 50 38.16 2 200 100 55.90 3 200 150 72.80 4 200 200 104.17 6 200 300 132.50 200 400 157.99 10 200 500 191.36 13 200 650 219.44 16 200 800 249.61 20 200 1000 277.32 25 200 1250 295.76 30 200 1500Please answer in tipping format