Through price collusion, each firm would achieve higher profits.
When competing businesses agree to cooperate, such as by raising prices in order to increase profits, this is called collusion. Collusion is a strategy used by businesses to increase profits at the expense of customers and lowers market competition.
Lower consumer surplus, higher prices, and more profits for the colluding businesses are the results of collusion. It may enable oligopolists to exercise monopoly power and increase their group earnings. In an oligopoly, businesses have a strong incentive to work together.
Collusion may be a tactic used in times of unproductive economic circumstances to try and rescue the industry and save companies from going out of business, which would not be for the long-term benefit of consumers.
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Answer:
3. Correctly ignored a sunk cost
Explanation:
Sunk costs refer to those costs which have been incurred in the past and which can no longer be recovered. For example, past expenditure on research and development with no current or future benefits represent sunk costs which can no longer be recovered.
Sunk costs are irrelevant for decision making process as they do not relate to current projects and yield no economic benefit.
In the given case, Manuel had already purchased a $10 movie ticket, which can neither be transferred nor eligible for a refund. Later when he does not exercise the option of going for the movie and opts for a concert instead, the amount of 10$ spent on the movie represents a sunk cost which is non recoverable.
Answer:
The map of the current process is found in the attached
The minimum cycle time is 1 min 40 seconds
The longest cycle time is 2 min 35 seconds
The new minimum cycle is 1 min 15 seconds
The new longest cycle time is 2 mins
The potential problem that could surface from splitting the process is that once the customer has finished paying the customer has to wait for about 30 to 55 seconds before the second attendant finishes with packaging,hence ,a queue would likely be formed awaiting the second attendant.
The problem could be solved by ensuring the taking money and packaging takes the same time.
Explanation:
Minimum cycle time=20+55+25=100 seconds=1 minute 40 seconds
The longest cycle time=30+90+35=155 seconds=2 min 35 seconds
The new minimum cycle time=20+55=75 seconds=1 min 15 seconds
Taking customer's money also happened in the first 35 seconds of the 55 seconds above.
The new longest cycle time=30+90=120 seconds=2 mins
Like cars, bikes, airplanes, trains, public transport?
Answer:
the correct answer is $150
Explanation:
TC=500 + 150q - 20q^2 + q^3
AVC=(150Q-20Q^2+Q^3)/Q
=150-20Q+Q^2
When AVC is at its minimum means that the marginal cost( CM) is igual to AVC, so we could consider this analysis:
CM= d(TC)/dq =150-40Q+3Q^2
CM=AVC
150-40Q+3Q^2=150-20Q+Q^2
Join similar terms:
150-150-40Q+20Q+3Q^2-Q^2=0
0-20Q+2Q^2=0
Q(-20+2Q)=0
Q_1=0 y Q_2=20/2=10
with q_1 with q_2
150-40*0+3*0=150-20*0+0 150-40*10+3*10^2=150-20*10+10^2
$150=$150 150-400+300 =150-200+100
$50= $ 50
We have two solution if we assume that q=0 like the minimum then the results is $150.
f we assume that q=10 like the minimum then the results is $50.
