User Account

All Pages

What is the innovator profit prior to the innovation

Assignment Help Business Economics
Reference no: EM132639513

The market for pizza is perfectly competitive and demand is given by = 48 - 4 . Initially, all the sellers have the same marginal cost = 6. Suppose one seller reduced her marginal cost to $4 through some non-drastic innovation. Call this person the innovator.

a. What is the innovator's profit prior to the innovation?

b. What is the innovator's profit after the innovation?

c. What is the additional profit generated by the innovation?

Reference no: EM132639513

Questions Cloud

Amount of substitution bias and quality : Suppose you are in charge of sales at a pharmaceutical company, and your firm has a new drug that causes bald men to grow hair.
Prepare financial analysis that will be used in deciding : Prepare financial analysis that will be used in deciding whether or not to close the Denver Cover Plant. Management has asked you to identify
Why you want to perform the analysis : Go on Kaggle.com. This is a website for Data Scientist to practice their skills on real-world datasets and solve real-world problems. You will need to sign up.
Description of the organization products or services : Describe the organization you have chosen. Please include the name and a short description of the organization's products or services.
What is the innovator profit prior to the innovation : a. What is the innovator's profit prior to the innovation? b. What is the innovator's profit after the innovation?
Determine the net operating income of foundation : Determine the Net Operating Income of Foundation. SeanD has constructed the following report that breaks down the firm's overall results
Discuss authentication of application security : Discuss authentication and authorization in the context of Application Security. For all writing assignments ensure that you do the following.
What are common facilitators of effective : What are the common facilitators of effective DM emerging from Readings 1&2 of Module 2? List them and state why these attributes emerge in DM processes.
How do find the raw materials used in production : How do you find the raw materials used in production? Explain your answer so better understand it. Provide the specific example.

Reviews

Write a Review

Business Economics Questions & Answers

  Economics assignment

This document contains various important questions and their appropriate answers in the subject field of Economics.

  Demand and supply curves

Economics is the study of the principles governing the allocation of scarce means among competing ends when the objective of the allocation is to maximize the attainment of the ends.

  Long-run perfectly competitive equilibrium for the firm

Evaluate Government intervene and correct this situation?(a) Explain the concept of a concentration ratio. A rise in the price of magarine Explain the impact of external costs and external benefits on resource allocation long-run perfectly c..

  Supply and demand diagrams

Explain each of the following using supply and demand diagrams,  With the use of a graph, explain how these two programs affect cigarette consumption and the price of cigarettes.

  Case study: fisher-price toys

The case study of the Fisher-Price Toys, Inc., a popular case in basic economics and management from the prestigious Harvard Business School.

  Draw the production possibility curve

Draw the production possibility curve and a. Define consumer surplus and producer surplus.

  Tax revenue

The Australian government administers two programs that affect the market for cigarettes

  Maximize total welfare

How many tickets to sell to maximize total welfare.

  Difference between the cv and the ev

The change in consumer surplus (?CS) is not "theoretically" justifiable like the CV and EV but it continues to be the most widely used measure of consumer welfare change. Explain how this can be reconciled

  Depict von neumann-morgenstern utility index u in a diagram

Depict the von Neumann-Morgenstern utility index u in a diagram

  What is the market solution

What is the market solution (market price and quantity) and What is the total surplus of the society under the market solution

  Calculate gross national product and net national product

Calculate gross national product and net national product

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd