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Author Question: The following table shows the annual profits of two pottery manufacturers. At present they both ... (Read 36 times)

nmorano1

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on: May 25, 2020
The following table shows the annual profits of two pottery manufacturers. At present they both charge €20.00 for a teapot. Their annual profits are shown in cell A in the following table. The other cells show the effects on their profits of one or the other firm or both firms reducing their price to €19.00.

​Gary Potter: €20.00Gary Potter: €19.00
Topotz: €20.00A
€24m each
​		B
€8m for Topotz
€32m for Gary Potter
Topotz: €19.00C
€36m for Topotz
€12m for Gary Potter		D
€16m each
​
Assuming no collusion between the two firms, which of the following is correct?
◦ Both firms will keep the price at €20.00.
◦ Gary Potter will keep its price at €20.00 and Topotz will reduce its price to €19.00.
◦ Gary Potter will reduce its price to €19.00 and Topotz will keep its price at €20.00.
◦ Both firms will reduce price to €19.00.
Essential Economics for Business ¦ Sloman, Jones ¦ 5th Edition
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Marked as best answer by nmorano1 on May 25, 2020

Perkypinki

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Reply #1 on: May 25, 2020
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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nmorano1

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Reply 2 on: May 25, 2020
YES! Correct, THANKS for helping me on my review

patma1981

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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