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A Consulting Company Estimated Market Demand and Supply in a Perfectly

question 55

Multiple Choice

A consulting company estimated market demand and supply in a perfectly competitive industry and obtained the following results: Qd=25,0005,000P+25MQ _ { \mathrm { d } } = 25,000 - 5,000 P + 25 M Qs=240,000+5,000P2,000PJQ _ { s } = 240,000 + 5,000 P - 2,000 P _ { J } where P is price,M is income,and PIP _ { I } is the price of a key input.The forecasts for the next year are M^\hat { M } = $15,000 and P^I\hat { P } _ { I } = $20.Average variable cost is estimated to be AVC=140.008Q+0.000002Q2A V C = 14 - 0.008 Q + 0.000002 Q ^ { 2 } Total fixed cost will be $6,000 next year.Suppose that income for next year is forecasted to be $9,000 instead.What is the revised price forecast for next year?

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Definitions:

Diffusion

The process by which innovations or cultural elements spread within and across societies or social groups.

Acquisition

The process by which one company takes over another, either by purchasing it or by merging with it to expand its operations and market reach.

Attitude-Centered

Focuses on beliefs, feelings, and predispositions towards objects, people, or events that influence behavior or perception.

Teambuilding Activities

Teambuilding activities are designed exercises or events intended to enhance social relations and define roles within teams, often involving collaborative tasks.

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