7. Bertrand duopolists, Firm 1 and Firm 2, face inverse market demand P= 50-Q. and both have marginal cost, MC=$20. The equilibrium output this market will be: a) 15 b) 20 c) 30 d) 40

Tasty Snacks, Inc., a regional snack foods company (corn chips, potato chips, etc.) in the northeast, is considering two alternative proposals for expansion into southeastern states. Alternative 1: Construct a single plant in Chattanooga, Tennessee with a monthly production capacity of 250,000 cases, a monthly fixed cost of $265,000, and a variable cost of $45 per case. Alternative 2: Construct three plants, one each in Birmingham, Alabama, Tallahassee, Florida, and Charlotte, North Carolina, with capacities of 100,000, 80,000 and 70,000, respectively, and monthly fixed costs of $180,000, $150,000, and $135,000 each. Variable costs would be only $44 per case because of lower distribution costs. To achieve these cost savings, sales from each smaller plant would be limited to demand within its home state. The total estimated monthly sales volume of 175,000 cases in these three southeastern states is distributed as follows: 70,000 cases in Florida, 60,000 cases in North Carolina, and 45,000 cases in Alabama.

A.   Assuming a wholesale price of $50 per case, calculate the breakeven output quantities for each alternative.
  
B.   At a wholesale price of $50 per case in all states, and assuming sales at the projected levels, which alternative expansion scheme provides Tasty Snacks with the highest profit per month?
  
C.   If sales increase to production capacities, which alternative would prove to be more profitable?

7. A cue ball traveling horizontally at 2.5 m/s strikes a stationary 8-ball, causing the 8-ball to travel at a 30◦ angle with respect to the horizontal. If the two have the same mass, (a) What are the speeds of the cue and 8-ball post-collision? (b) Using your results, indicate what kind of collision occurred. You must back up your conclusion using your results.

A jar contains 6 blue and 8 red marbles. What is the probability of drawing two consecutive red marbles if the drawing is done without replacement?

Group of answer choices

32/91

2/7

4/13

101/91

Article 1

Chapters 1-3, Topics: Climate Change; Major Global Atmospheric Wind Patterns

Article Assignments: the student will be required to write a one-page article on physical geography (type one paragraph, 4-8 sentences) (see following website links for some online sources or use hard copy newspapers or magazines) covering the summary or the article in your own words. Temporal (time) scale of article should be within the last 10-years, unless you are writing on a larger geological temporal scale (ex: decades, hundreds, thousands, millions, or billions of years). You must include two images (one must be a map of article location and one image, chart, graph, or table), and geographic coordinates (latitude and longitude; AKA: Lat/Lon) of article topics’ physical location (please see following URLs to obtain your Lat/Lon:

1. Here we think about two people, Sally & Tamara, who are in a ridiculously simple place where only two goods exist, apples & Hot Dogs. Sally is indifferent between bundles A, B, C, D, E, F, and G. Tamara is indifferent between bundles H, J, I, K, L, M, and N.

Sally:

Tamara

1. What is the value of 4 apples to Sally? (1)

2. What is the marginal value of the 4th apple to Sally? (1)

3. What is the marginal value of the 4th apple to Tamara? (1)

4. Let us say, Sally has bundle E & Tamara has bundle H. Explain how trade can make each one of them better off (give all relevant details, such as who would trade what for what, what will each person ends up with as the result of their trade, and how you know that what they have after trade is better than what they have started with). (3)

5. What would be the equilibrium outcome of their trade (i.e., how many apples and how many hot dogs would each of them have in equilibrium)? Explain, with reference to maximization, how you know that that outcome is equilibrium. (3)

Seven years ago, you started a crosstown delivery service. The service is an environmentally friendly business and, given all the traffic congestion, you are also the fastest service in the city since your entire crew are bicyclists. You have two types of service. You have a small parcel service for anything that is flat and measures less than 11x17. You have a package service using a 100 lb. capacity bike trailer for anything weighing up to 10 lbs. As a way to introduce the new package service when you implemented the small package service, you charged the same price for packages as parcels. You are now wondering if you should charge different prices for the parcel and package service.

Complete the table below for the combined market of parcels and packages.