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BUS 640 Week 4 Market Structures and Pricing Decisions Applied Problems
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Download answer at http://www.examtutorials.com/course/bus-640-week-4-market-structures-and-pricing-decisions-applied-problems/
<div id="tab-description"><strong>Market Structures and Pricing Decisions Applied Problems</strong>. A small business which produces plastic vacuum-suction covers for round household dishes has a monopoly that is protected by a utility patent. The market demand curve for this product is estimated to be: – 25P where Q is the number of plate covers per year and P is in dollars. Cost estimation processes have determined that the firm’s cost function is represented by + 2500Q -0.25*Q2.2. Greener Grass Company (GGC) competes with its main rival, Better Lawns and Gardens (BLG), in the supply and installation of in-ground lawn watering systems in the wealthy western suburbs of a major east-coast city. Last year, GGC’s price for the typical lawn system was $1,995 compared with BLG’s price of $2,100. GGC installed 9,130 systems, or about 55% of total sales and BLG installed the rest. (No doubt many additional systems were installed by do-it-yourself homeowners since the parts are readily available at hardware stores.)</div> http://www.examtutorials.com/course/bus-640-week-4-market-structures-and-pricing-decisions-applied-problems/Download answer at https://www.examtutorials.com/course/bus-640-week-4-market-structures-and-pricing-decisions-applied-problems/ <div id="tab-description"><strong>Market Structures and Pricing Decisions Applied Problems</strong>. A small business which produces plastic vacuum-suction covers for round household dishes has a monopoly that is protected by a utility patent. The market demand curve for this product is estimated to be: – 25P where Q is the number of plate covers per year and P is in dollars. Cost estimation processes have determined that the firm’s cost function is represented by + 2500Q -0.25*Q2.2. Greener Grass Company (GGC) competes with its main rival, Better Lawns and Gardens (BLG), in the supply and installation of in-ground lawn watering systems in the wealthy western suburbs of a major east-coast city. Last year, GGC’s price for the typical lawn system was $1,995 compared with BLG’s price of $2,100. GGC installed 9,130 systems, or about 55% of total sales and BLG installed the rest. (No doubt many additional systems were installed by do-it-yourself homeowners since the parts are readily available at hardware stores.)</div> https://www.examtutorials.com/course/bus-640-week-4-market-structures-and-pricing-decisions-applied-problems/ |
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