Answer:
<u>Part a: What will be the equilabrium price that Dumphy and Funke will charge?</u>
Answer: Price charged = $30
<u>Part b: What are the profits for Dumphy and Funke at the equilibrium price?</u>
Answer: Profit on equilibrium price = $0
<u>Part c: What type of competition would Funke and Dumphy likely engage in after the decrease in demand?</u>
Answer: Price competition
Explanation:
<u>Part a: What will be the equilabrium price that Dumphy and Funke will charge?</u>
Answer:
Price charged by each of the artists will be equal to their marginal cost.
Thus, equilibrium P = MC = $30.
<u>Part b: What are the profits for Dumphy and Funke at the equilibrium price?</u>
Answer:
Equilibrium profits will be 0 at the equilibrium because price charged is equal to MC, leading to no profits.
<u>Part c: What type of competition would Funke and Dumphy likely engage in after the decrease in demand?</u>
Answer:
Price competition - as changes in price will lead to changes in demand and thus sales
The foreign MNC's like UPS seeking to invest in India because of the country's market potential, skilled workforce and political stability.
The foreign MNCs are investing in India because of cheaper production costs. India is a critical growth market for logistics giant United Parcels Service (UPS) as it aims to provide the predictable and reliable service to B2B domestic market through its new venture called MOVIN.
India's market potential, skilled workforce and political stability are the three key reasons that make India the favored destination for foreign investment. When compared to other countries India is a relatively cheaper place to conduct business.
Hence, these reasons attracts foreign investors towards India.
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It is important to note that politics and the economy have effects on the transportation industry, as the industry is ever changing with new policies, regulations, or capacity issues.
Politicians and the policies they create dictate the US economy, effecting all industries. It is seen that the transportation industry saw effects because of the trade and tariff wars. The overall regulations depend largely on the economic and political outlook of the party in power.
For instance, a government that is inclined to pursue neo-liberal policies, could pass more legislations favoring industries and big businesses, while a government inspired by socialism could push policies favoring small businesses.
Hence, the answer was given and explained above.
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<u>Answer: </u>Just in time inventory
<u>Explanation:</u>
Just in time is the strategy that is generally used in production units where they can efficiently manage the stock by reducing the waste. The waste can be reduced by receiving the goods only when they are needed so this reduced the inventory costs.
Inventory cost are the costs related to procurement, storage and maintenance of the inventory. Walgreens store can reduce the stocking of goods cost by ordering them on time when required alone. The small shipment of goods for every two days once can reduce the inventory cost.
