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olchik [2.2K]
3 years ago
9

Suppose Hubert and Kate form a cartel and behave as a monopolist. The profit-maximizing price is $ per gallon, and the total out

put is gallons. As part of their cartel agreement, Hubert and Kate agree to split production equally. Therefore, Hubert's profit is $ , and Kate's profit is $ .

Business
1 answer:
ArbitrLikvidat [17]3 years ago
4 0

Consider a town in which only two residents, Hubert and Kate, own wells that produce water safe for drinking. Hubert and Kate can pump and sell as much water as they want at no cost. For them, total revenue equals profit.

The following table shows the town's demand schedule for water,

Quantity Demanded Total Revenue (Dollars per gallon) (Gallons of water) (Dollars) $247.50 $450.00 $607.50 4.00 180 $720.00 $787.50 3.00 270 $810.00 $787.50 2.00 $720.00 $607.50 $450.00 $247.50 (Look at attached image for clearer image)

Answer:

$3, $810

Explanation:

By carefully examining the table above we can infer that Hubert and Kate's profit is maximised at $3 unit price.

The total output at this point is 270 with a total Revenue of $810, implying that they will share the amount equally 810/2= $405 for Kate and $405 for Hubert.

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The Fortunato Corp.'s inventory at Dec 31, 2018, was $325,000 based on a physical count priced at cost, and before any necessary
AleksandrR [38]

Answer:

$405,000

Explanation:

The computation of the ending inventory reported is shown below:

Inventory on December 31,2018 $325,000

Add: Goods purchased from a vendor i.e shipping point $30,000

Add: Goods sold FOB destination to customer $38,000

Add: consignment by Brecht Inc $12,000

Ending inventory reported $405,000

In the above cases, the added items indicates the ownership is transferred to buyer , received by buyer and remains with the buyer

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4 years ago
Harvey Hotels has provided a defined benefit pension plan for its employees for several years. At the end of the most recent yea
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Pension expense of Harvey Hotels in its income statement for the year= <u>$9.7 million </u>.

<u>Explanation</u>:

Service cost= $7.3 million

Interest cost= $2.5 million

Amortization of prior service cost= $2.2 million

Expected return on plan assets= $2.3 million

Pension expense=?

Pension expense is decreased by amortization of net gain.

Pension expense= (Service cost+ Interest cost- Expected return on plan assets+ Amortization of prior service cost

                            = (7.3+2.5+2.2)-2.3

                            = 9.7 million

Pension expense of Harvey Hotels in its income statement for the year= $9.7 million

8 0
4 years ago
On December 1, Marzion Electronics Ltd. has three DVD players left in stock. All are identical, all are priced to sell at $161.
Leni [432]

Answer:

$208

Explanation:

Using the FIFO Inventory method, inventory items are assumed to be sold in the order in which they were purchased from the earliest to the latest.

The order of purchase of the inventory items are.

Jun. 1, DVD Player 1012, $113

Nov. 1, DVD Player 1045, $95

Nov. 31, DVD Player 1056, $88

Therefore, if two of the three items are sold, the cost of goods sold is the cost of the first two items purchased

= 113 + 95 = $208.

4 0
4 years ago
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Which legal doctrine allows the use of copyrighted works for purposes that benefit the public, such as teaching and news reporti
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The legal doctrine that allows for the usage of copyrighted works for certain purposes is known as the <u>"Fair Use" doctrine.</u>

<h3>The "Fair Use" doctrine</h3>
  • Became federal law by the passing of the Copyright Act of 1976.
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This means that when copyrighted work needs to be used in areas covered by this doctrine, the users do not have to ask for permission from the owners of the work.

In conclusion, this is The "Fair Use" doctrine.

Find out more on The "Fair Use" doctrine at brainly.com/question/1268530.

5 0
3 years ago
According to Butner (2011), performance optimization concept is described as a multi-enterprise, supply demand balancing solutio
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Answer:Segregate events across the end-to-end value chain related to customers, distribution, manufacturing, and multi-tiered supply.

Explanation: Performance optimization is a term used to describe the various changes and modifications made to a business in order to ensure that the performance meets the required set levels.

According to Burner(2011)the Segregation of events across the end-to-end value chain related to customers, distribution, manufacturing, and multi-tiered supply is not one of the core features of performance optimization.

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4 years ago
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