The covid 19 pandemic has had a significant impact on the clothing industry. With more people working from home, the demand for business attire dramatically decreased. In the short run, a struggling business attire retailer should temporarily shut down if at the profit-maximizing or loss minimizing point the marginal revenue curve is
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- Tyke's Bikes is a bicycle sales and repair shop in a small city. It sells new and used bikes with a narrow profit margin and does repairs at minimal costs. Frequently, if a child comes into the sh with a broken part or a flat tire, Tyke's makes the repair for free if the child has no money. Tyke's also provides a free one-hour repair class for those who want to learn how to fix their bikes. At local organized bike rides, Tyke's provides free services, asking only for voluntary donations. W theory of corporate social responsibility is Tyke's exhibiting? O The narrow view, or invisible hand theory. The moderate view, or government's hand theory. The hybrid view, or citizen's hand theory. The broad view, or good corporate citizenship..A brand that has experienced an ethical crisis is Victoria's Secret. They have sweatshops in Sri Lanka and use child labor. People are made to work 14 hours a day unpaid. Victoria's Secret has taken a massive blow to the brand in the past couple of years from the horrible information that has come out about the company. The forced labor in sweatshops is what is causing the company to go down in popularity. Not only do they have unethical practices they are also known for their discrimination of their models and pushing unrealistic body standards on young impressionable girls. Everyone knows the Victoria's Secret angels and how they are known for their perfect bodies but behind-the-scenes models faced racism and were forced to go on deadly diets. Their sizing was never inclusive of plus size until this year. They have also faced scrutiny over their "rebranding" with more diverse models but that does not cover the forced child labor they are using to make their garments. It seems it's…the cost of producing a bottle of zlurp is 1.50, and the competitive suppliers sell it at this price. Each whovillian will consume
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- Round off your final answer to whole #. A company produces and sells a consumer product and is able to control the demand by varying the selling price. The approximate relationship between price and demand is p=45 + 2700/D - 5000/D2 for D > 1 The company is seeking to maximize its profit. The fixed cost is $1,000 and the variable cost is $38 per unit. What is the number of units that should be produced and sold each month to maximize profit?A university football team faces the following demand schedule shown for tickets for each home game it plays. The team plays in a stadium that holds 60,000 fans. It estimates that its marginal cost of attendance, and thus for tickets sold, is zero. The table below reflects this data: Price per Ticket ($) Tickets per Game 100 80 60 40 20 0 Total revenue = $ 20,000 40,000 60,000 80,000 100,000 Using this information, calculate how much total revenue the team will earn.Which of the following hypothetical restaurants would be most affected by the decrease in demand due to COVID-19? A cafe that already has a large patio seating section. A pizzeria that already employs delivery drivers. A cheap hamburger restaurant with a functioning drive-thru. A fancy restaurant that has a large profit margin due to the fame of i chef. A tavern that attracts customers by offering live music and energetic dancing.
- CareRight Medical Company has invented and received a patent for a new drug to treat a rare and fatal disease. It charges $5,000 for a year’s supply of the drug. Critics claim that this amount is excessive, as it does not cost that much to produce. They believe the company is taking advantage of sick people. CareRight responds that they are losing money on this drug. The critics are right: It does not cost CareRight $5,000 to produce a year’s supply for one person. However, CareRight’s statement is also correct in that they are losing money on the drug. How can both statements be true? Consider the different types of costs in your answer.Exercise 5.4 A company is producing and selling branded milk with the following total cost function: CT(q)= 0.2q²+q+70. If the demand function for this brand of milk is: P=15-0.5q: a) Calculate the optimal price of milk, as well as the optimal quantity sold and the profits of the company. b) Calculate the price elasticity of demand in the equilibrium of the company. c) Justify why the company has an excess of productive capacity. d) Represent graphically.An umbrella manufacturer sells its product in Nevada and Oregon. Due to different climates, each state has different demands for umbrellas. The marginal cost of production is the same in each state and is a constant $10. The demand curve for raincoats in each state is: QOregon = 120-2P (or P = 60 -0.5QOregon) QNevada = 60 - 4P (or P = 15 -0.25QNevada) The umbrella manufacturer wants to practice third-degree price discrimination. How much should it charge in each state? (Assume that resale between the states is not possible.) P = $10 (price = marginal cost) in both Oregon and Nevada. P = $35 in Oregon and P = $10 in Nevada. P = $35 in Oregon and P = $12.5 in Nevada. It should only sell in Oregon, and charge P = $35 there. None of the above choices are correct.