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Agata [3.3K]
3 years ago
6

Quick Buck and Pushy Sales have agreed to each produce half the profit-maximizing monopolist quantity, set the monopoly price an

d split the profits evenly. Find the economic profit for both firms if they cooperate and charge the same price. Please enter your answers as numerical entries (ie. 1000 or $1000 not "One thousand dollars") Profit for Quick Buck Profit for Pushy Sales Suppose Quick Buck can cheat on Pushy Sales and reduce it's price to $1.00 each while Pushy Sales continues to comply with the collusive agreement and charge $1.50. Find the economic profit for both firms if Quick Buck breaks the agreement and charges a lower price. Profit for Quick Buck Profit for Pushy Sales
Business
1 answer:
Stells [14]3 years ago
6 0

Answer:

see explaination

Explanation:

Since marginal cost is zero in this case. Cartel will select the output such that MR=0

We observe that MR=0 at Q=2000 units

Corresponding price for a output of 2000 units is $1.50

So,

Output of each firm=q=Q/2=2000/2=10000

Profit of each firm=P*q-total cost=1.5*1000-0=$1500

So,

Profit for Quick Buch=$1500

Profit for Pushy Sales=$1500

Since Quick buck reduces the price to $1, it will capture the whole quantity demanded

Total quantity demanded at price of $1=3000

Profit for quick buck=P*Q-Total Cost=1*3000-0=$3000

Profit for Pushy Sales=P*Q-Total Cost=1.5*0-0=$0

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Raw Materials Inventory, beginning to balance $36,000
lesya692 [45]

Answer:

1. Journal Entry                        Debit        Credit

  Raw materials inventory      $73,400

   ($72,000 + $1,400)

          Accounts payable                          $73,400

   (Being raw materials purchase on credit)

2. Journal Entry                        Debit        Credit

  Work in process                      $64,300

   ($64,000 + $300)

        Raw materials inventory                    $64,300

                   <u>Raw Material Inventory Account</u>

Beginning balance    $36,000  |  Work in process $64,300

Purchase                    $73,400  |                              <u>            </u>

                                                   | Ending balance    <u>$45,100</u>

                                                   |  ($36,000 + $73,400 - $64,300)

3 0
3 years ago
The original price of a television is $500 you have a coupon for 25% off excluding tax what is the cost of the tv
ch4aika [34]
Original price = $500

Assume that the tax rate is 8%
Cost of the TV plus tax = 500*1.08 = $540
Worth of the 25% coupon = 0.25*540 = $135
Reduced price = 540 - 135 = $405

The cost of the TV with a coupon for 25% off excluding tax is $405.

Answer: $405

6 0
2 years ago
Presented below is information for Marin Company.
hram777 [196]

Answer:

Debit Accounts Receivable for $104,700; and Credit Sales Revenue for $104,700.

Debit Cash for $85,400; and Credit Accounts Receivable for $85,400.

Explanation:

The (summary) journal entries to record the items noted will look as follows:

<u>Particulars                                   Debit ($)             Credit ($)        </u>

Accounts Receivable                  104,700

Sales Revenue                                                         104,700

<u><em>(To record net sales (all on account) for the year.)                        </em></u>

Cash                                             85,400

Accounts Receivable                                               85,400

<u>(Collections on accounts receivable during the year.)                 </u>

3 0
2 years ago
A primary difference between macroeconomics and microeconomics is
sleet_krkn [62]

'Micro is the study of individuals and business decisions while macroeconomics while macro studies the decisions of the governments and countries.'

Microeconomics examines individual markets while macroeconomics examines the economy.

6 0
2 years ago
The quality team at Nigre, a cosmetics company, is continuously involved in monitoring the production process to ensure that the
omeli [17]

Answer:

Control

Explanation:

According to my research on the different activities of process management, I can say that based on the information provided within the question Nigre is engaged in the Control Activity. This activity focuses on making sure all procedures, techniques, and policies are followed accordingly in order to meet all of the organizations goals and basically minimize the risk of defective products or problems occurring. Which is what Nigre is doing by monitoring the production process and making sure everything is meeting the specifications.

I hope this answered your question. If you have any more questions feel free to ask away at Brainly.

5 0
2 years ago
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