Partnership business can't be successful without mutual understanding?

Your company manufactures two models of speakers, the Ultra Mini and the Big Stack. Demand for each depends partly on the price

Kipish [7]

Answer:

p1 = $259.53 p2 = $381.20

Explanation:

1. Find the revenue function.

This is a typical income maximization problem. Therefore, the first thing we should know is what are the revenues for each product.

Recall that the revenue is given by P * Q

1.a Find the revenue of the Ultra Mini (product 1):

$R_{1} = P_{1} Q_{1}$

$R_{1} =P_{1} (100,000 - 200P_{1} + 10P_{2} )$

$R_{1} =100,000P_{1} -200P_{1} ^{2} +10P_{2}P_{1}$

1.b Find the revenue of the Big Stack (product 2):

$R_{2} = P_{2} Q_{2}$

$R_{2} =P_{2} (150,000 + 10P_{1} - 200P_{2} )$

$R_{2} = 150,000P_{1+2} +10P_{1}P_{2} -200P_{2}^{2}$

2. Find the marginal revenues.

The revenue function must be derived from the price.

For product 1, we derive from P1:

$MR_{1} = 100,000 -400P_{1} +10P_{2}$

For product 2, we derive from P2:

$MR_{2} = 150,000 + 10P_{1} - 400P_{2}$

3. Create a system of linear equations in two unknowns

With the marginal revenue functions we create a system of linear equations in two unknowns (p1 and p2) and equal 0.

$100,000 - 400P_{1} +10P_{2} = 0\\150,000 + 10P_{1} -400P_{2} = 0$

4. Resolve the previous system

4.a. To make it easier, we can rethink the terms of the system like this:

$100,000 - 400P_{1} +10P_{2} = 0$ is the same as saying:

$P_{2} = \frac{-100,000 + 400P_{1} }{10}$

And $150,000 + 10P_{1} -400P_{2} = 0$ is the same as saying:

$P_{2}=\frac{150,000+10P_{1} }{400}$

Therefore:

$\frac{-100,000 + 400P_{1} }{10} =\frac{150,000+10P_{1} }{400}$

Notice that now we only have one unknown (P1).

4.b. In order to eliminate fractionals, we can multiply both terms by 400:

$\frac{400}{10} (-100,000 + 400P_{1} ) = \frac{400}{400} (150,000 + 10P_{1} )$

$(40)(-100,000+400P_{1}) =150,000+10P_{1}$

$-4,000,000+16,000P_{1} =150,000+10P_{1}$

4.c. We solve the equation, putting numbers on one side and unknowns on the other:

$-4,000,000-150,000=10P_{1} -16,000P_{1}$

$-4,150,000=-15,990P_{1}$

$\frac{-4,150,000}{-15,990} =P_{1}$

$P_{1} = $ 259.53$

4.d. Once P1 has been identified, we replace it in any of the terms of the original system of equations (those established in 4.a).

$P_{2}= \frac{-100,000+400(259.53)}{10}$

$P_{2} = 381.20$

5 0

3 years ago

Let mp = marginal product, p = output price, and w = wage, then the equation that represents a situation where a competitive fir

Rasek [7]

I have no idea haha lol

4 0

3 years ago

The Grow Your Garden seed company recently conducted a situation analysis. It decided on its marketing goals too. What is its ne

zhannawk [14.2K]

Answer:

To plan effective strategies and specific tactics to accomplish the strategic objectives

Explanation:

Since the company has conducted situational analysis and chosen its marketing goals the next logical step is to plan effective strategies and specific tactics to accomplish the strategic objectives. Both situational analysis and marketing goals are needed in order to understand who to target and what to aim for. Once a company has this, they need to plan a course of action in order to accomplish those goals as effectively as possible.

3 0

2 years ago

On January 10, Molly Amise uses her Lawton Co. credit card to purchase merchandise from Lawton Co. for $1,700. On February 10, M

AVprozaik [17]

Answer:

the journal entry are given below

Explanation:

given data

On January 10

purchase merchandise = $1,700

On February 10

amount due = $1,700

On February 12

Molly pays = $1,100

On March 10

amount due & interest = 1% per month

solution

Interest revenue to be recorded on March 10 that is calculated as

Unpaid balance as of February 12 = $1700 - $1100 = $600

and interest rate = 1% per month

so

Interest revenue = $600 × 1% = $6

so the journal entry are

date account title debit credit

January 10 account receivable $1700 sales revenue $1700

February 12 cash $1,100

sales revenue $1100

March 10 account receivable $6

interest revenue $6

5 0

2 years ago

Oucation 6 of 25

Vladimir79 [104]

Answer:

A. How are goods and services to be distributed?

Explanation:

After the manufacturing of the goods, the process of distribution proceeds. In this process, the goods and services produced are distributed from the producers to the consumers. Transportation, packaging, storage, and advertising are some of the processes that lie between the production and distribution of the products.

According to the given options, the basic question to be asked related to the distribution of the produced goods is option A. All the other three questions belongs to the production stage.

4 0

2 years ago

Partnership business can't be successful without mutual understanding?​

Partnership business can't be successful without mutual understanding?