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Suppose there are two firms with one demand function. This Need more help! Suppose there are two firms with one demand function. This same (common) demand function is: [from HW] Q = 1,000 – 40P with MR = 25 – 0.05Q However, each firm has its own cost function which is different. These two different cost functions are shown below respectively: Firm 1: 4,000 + 5Q Firm 2: 3,000 + 7Q a. What price should each firm charge if it wants to maximize its profit (or minimize its loss)?  b. If price war breaks out, most likely price will fall. Two most likely prices in that event are $13 and $12. Which company, firm 1 and firm 2, is more vulnerable to price war when P = $13 and why?  c. Which company, firm 1 or firm 2 is more vulnerable to price war when P = $12 and why? d. In view of your answers in (b) and (c), discuss advantage and disadvantage of cost structure between firm 1 and firm 2. e. Long run average cost curve decreases when output elasticity is greater than one. What is the implication of your answer in (b) and (c) for the shape of long run average cost curve?  Students also viewed these Organizational Behavior questions Suppose there are two firms in a market, a big incumbent firm Suppose there are two firms in a market, a big incumbent firm (B) and a start-up challenger firm…… … development (R&D) race with a random return M that is equally likely to be 0 or 1. TQuestion 4 [30 marks] Suppose there are two firms in a market, a big incumbent firm (B) and a start-up… Suppose there are two types of e-book consumers: 100 “standard” consumers with Suppose there are two types of e-book consumers: 100 “standard” consumers with demand Q = 20 -…… … demand curve is given by Q = 10 if P < 10 and Q = 0 if P > 10.) Draw the resulting total demand curve for e-books. 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Define the following terms: indexing field, primary key field, clustering field, secondary Define the following terms: indexing field, primary key field, clustering field, secondary key field, block anchor, dense index, and nondense (sparse) index. The following is an alphabetical list of all of White Limnology Company’s The following is an alphabetical list of all of White Limnology Company’s adjusted trial balance…… … annual payments)Notes Payable (short-term)Notes Receivable (short-term)Office SuppliesPatents (net)Preferred StockPremium on Bonds PayablePrepaid InsuranceRaw MaterialsRetained… (8) Find the Sland asymptote/inclinaed asymptote 9the followsing Cerues 3x +3x (8) (8) Find the Sland asymptote/inclinaed asymptote 9the followsing Cerues 3x +3x (8) Find the Sland asymptote/inclinaed asymptote 9the followsing Cerues 3x +3x (8) Find the Sland asymptote/inclinaed asymptote 9the followsing Cerues 3x +3x The comparative balance sheet of Olson-Jones Industries Inc. for December 31, 20Y2 The comparative balance sheet of Olson-Jones Industries Inc. for December 31, 20Y2 and 20Y1, is as follows: The following additional information is taken from the records:A. Land was sold for $120.B. Equipment was acquired for cash.C. There were no disposals of equipment during the year.D. The common stock was issued for cash.E. There was a $62 credit to Retained Earnings for net income.F. There was a $24 debit to Retained Earnings for cash dividends declared.A. Prepare a statement of cash flows, using the indirect method of presenting cash flows from operating activities.B. Was Olson-Jones’s net cash flow from operations more or less than net income? What is the source of this difference? A firm that has total fixed costs of $40,000 sells its output A firm that has total fixed costs of $40,000 sells its output for $250 per unit and has an average variable cost of $150. If the firm’s cost and revenue curves are linear, how much output must the firm produce to break even? An oligopolistic industry has two sets of demand curves. If firm 1 An oligopolistic industry has two sets of demand curves. If firm 1 is the only one that changes…… … falls within the vertical range of MR curves, was only for one oligopolistic firm in the industry? g. What does this kink demand curve example try to teach us in view of the various points… Consider the information given in the table on four consumers in the Consider the information given in the table on four consumers in the market for orange juice……. … consumers? Illustrate your answer with a graph. b. Suppose the price of a bottle of orange juice rises to $1.50. Now what is the consumer surplus received by these consumers? Illustrate your… Discuss the following statement: ‘‘the separation of duties control is very difficult Discuss the following statement: ‘‘the separation of duties control is very difficult in…… … statement: ‘‘the separation of duties control is very difficult in computerized accounting information systems because computers often integrate functions when performing data processing… Distinguish between independence of mind and independence in appearance. State three activities Distinguish between independence of mind and independence in appearance. State three activities that may not affect independence of mind but are likely to affect independence in appearance. Use the following selected data from Business Solutions’s income statement for the Use the following selected data from Business Solutions’s income statement for the three months…… … margin ratio 2. Compute the current ratio and acid-test ratio (round to one decimal). 3. Compute the debt ratio and equity ratio (round the percent to one decimal). 4. What percent of its… As a consultant to MCR Company, you are told it is considering As a consultant to MCR Company, you are told it is considering the acquisition of Lakeland…… … Identify and discuss any significant year-to-year changes.At December 31:For year ended December 31:a. Current ratio.b. Acid-test ratio.c. Book value per common share.d. Gross profit margin ratio.e…. Harry Davis estimates that if it issues new common stock , the Harry Davis estimates that if it issues new common stock , the flotation cost will be 15 percent……. … firm uses a 4 percentage point risk premium. 5.Harry Davis’ target capital structure is 30 percent long-term debt, 10 percent preferred stock, and 60 percent common equity. To structure the…