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A phone manufacturer recently introduced a new smartwatch. The company invested $100 million in equipment for the new design mold (the mold is malleable and can be sold for $20.0 million to be used on another project) and $10 million in a new microchip used specifically for the watch (not valuable to anyone else). Labor and the cost of materials necessary to make each watch is about $75.00. This year, a competitor has developed a similar smartwatch that has significantly reduced demand for the new smartwatch. Now, the original manufacturer is deciding whether they should continue production of the new smartwatch.
-What, if anything, can be viewed as a sunk cost?
-In the short run, at what price should the manufacturer shut down production?
-If the estimated demand is 500,000 smartwatches, what is the break-even price for the smartwatch (assume long-run avoidable fixed costs of $20 million)?
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