The profit-maximizing price and combined quantity of output is indicated in the demand curve by using a black point (plus symbol).
<h3>What is a cartel?</h3>
A cartel can be defined as a formal agreement between two or more business firms (producers) of a particular product or service, that's formed to control production, sales and pricing in an oligopolistic industry.
At equilibrium in a cartel, marginal revenue is equal to marginal cost (MR = MC). Thus, the profit-maximizing price and combined quantity of output should be calculated from the demand curve as illustrated in the image attached below.
Read more on cartel here: brainly.com/question/15294015
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<u>Complete Question:</u>
Mays and McCovey are beer-brewing companies that operate in a duopoly (two-firm oligopoly). The daily marginal cost (MC) of producing a can of beer is constant and equals $0.40 per can. Assume that neither firm had any startup costs, so marginal cost equals average total cost (ATC) for each firm.
Suppose that Mays and McCovey form a cartel, and the firms divide the output evenly. (Note: This is only for convenience; nothing in this model requires that the two companies must equally share the output.)
Place the black point (plus symbol) on the following graph to indicate the profit-maximizing price and combined quantity of output if Mays and McCovey choose to work together.
Answer:
$2,492
Explanation:
Cost = Fixed cost + (Variable cost per unit × q)
Fixed cost $=1,920
Variable cost per unit =$11
q= 52
Hence;
= $1,920 + $11 × 52
=$1,920+$572
=$2,492
Therefore the materials and supplies in the planning budget for August would be closest to:$2,492
Answer:
The payback period for this project is 2.43 years.
Explanation:
Elmer Sporting Goods is getting ready to produce a new line of golf clubs by investing $1.85 million.
The investment will result in additional cash flows of $525,000, $812,500, and 1,200,000 over the next three years.
The payback period is the time it takes to cover the investment to be covered by returns.
The investment cost remaining in the first year
= $1,850,000 - $525,000
= $1,325,000
The investment cost remaining in the second year
= $1,325,000 - $812,500
= $512,500
The third year payback
= 
= 0.427
The total payback period
= 2.43 years
Answer:
Framing effects.
Explanation:
Framing effect in psychology is the cognitive bias whereby an individual makes decisions based more on the information presented than on one's own choice. In other words, when someone makes a decision that is influenced more by the effects of the information on others than on one's own opinions.
In the given scenario, Josh's decision to have tiramisu only when others are having dessert and not if he would be the only one having dessert is affected by the framing effect. This is because his decision is influenced by the way others behave rather than his desire to eat even his favorite dessert.
Thus, the correct answer is the framing effect.
Answer:
$102 unfavorable
Explanation:
The computation of the spending variance is shown below:
= Actual supplies cost - expected supplies cost
where
Actual supplies cost is $3,160
And, the flexible supplies cost would be
= Actual level of activity × price per boat + supplies cost per month
= 12 boats ×$44 + $
2,530
= $528 + $
2,530
= $3,058
Now put these values to the above formula
So, the value would equal to
= $3,160 - $3,058
= $102 unfavorable
= $11,389
Now put these values to the above formula
So, the value would equal to
= $11,700 - $11,389
= $311 unfavorable
