Michelle's Monopoly Mutant Turtles (MMMT) has theexclusive right to sell Mutant Turtle t-shirts in the UnitedStates. The demand for these t-shirts is Q = 10,000/P².The firm's short-run cost is SRTC = 2000 + 5Q,and its long-run cost is LRTCa. What price should MMMT charge to maximizeprofit in the short run? What quantity does it sell,and how much profit does it make? Would it bebetter off shutting down in the short run?b. What price should MMMT charge in the long run?What quantity does it sell and how much profitdoes it make? Would it be better off shutting downin the long run?c. Can we expect MMMT to have lower marginal costin the short run than in the long run? Explain why.6Q.

(a) Q = 10000/P2 P = 100 * Q-1/2 Total revenue = PQ = 100*Q1/2 Derivation with respect to Q for…

Answered: Michelle's Monopoly Mutant Turtles…

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

Section: Chapter Questions

Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...

See similar textbooks

Similar questions

Give two examples of unethical conduct involving inventory management and the ethical principle each one violates. Hint: Price gauging, preferential treatment towards one vendor, withholding stock Provide illustrations and cite all the sources.
M/s. Reliable Incorporates wants you to assist in pricingstrategy and ensuring how could it reach to the clients thereby wanting to increase the profitability of the business. A) For success of any business organization, the most important factor in marketing mix is Location, Location, Location (Place/Distribution)” Assuming the fact, list down the various methods of channel distribution strategies and advise one such strategy for M/s. Reliable Incorporates with appropriate views?
M/s. Reliable Incorporates are in the business of Garment Manufacturing. The company is known for its creative and unique designs. The company has a local, national, and international presence. The product categories of the company comprise of formals, casuals, suits, designer wears, and wedding outfits with the brand name as “RI”. M/s. Reliable Incorporates appoints you as a consultant and wants you to assist in pricing strategy and ensuring how could it reach the clients thereby wanting to increase the profitability of the business.
Several major retailers have begun to test the extreme markdown strategy that lies behind popular dollar stores such asDollar General and Dollar Tree Stores. Kroger, Walmart, andothers have opened sections in selected stores that featureitems from snacks to beauty supplies, all priced at $1. Is thisexperiment simply a test of pricing strategy? What else mightmotivate these retailers to offer such deep discounts?
M/s. Reliable Incorporates are in the business of Garment Manufacturing. The companyis known for its creative and unique designs. The company has local, national andinternational presence. The product categories of the company comprise of formals,casuals, suits, designer wears and wedding outfits with the brand name as “RI”. “Price is the only factor that generates revenue in marketing mix, while other factorsconcentrate at cost.” Understanding the fact, list down the different types of pricingstrategies and select anyone pricing strategy you advise for the company withreasoning?
What types of expectations may channel members haveabout producers’ prices? How might these expectationsaffect pricing decisions?
how will Reed’s competitors react to HL Reed's price cut
If a firm wished to encourage repeat purchases by a buyer throughouta year, would a cumulative or a noncumulative quantity discount be abetter strategy?
State and explain the five Considerations (C's) in setting the price for a product or service. Five C’s of PRICE • Costs (fixed, variable, total, break-even) • Consumers (market & demand, market situation: PM,PC, MC, OC) • Competitors (going rate, sealed-bid) • Company’s marketing objectives (penetration, survival, share, profit) • Control of government (regulations, adjustments, subsidies)
I am planning a Holiday Ornament to commemorate the christmas spirit. Forcasted demand for ornaments is normally distributed with a mean of 40,000 with a standard deviation of 15,000 units. The cost per ornament is $3 and are sold to people around the world for $10 each. All unsold ornaments are donated after the holidays without any text deductions for me. How many ornaments should I tell my supplier to produce? What's my expected profit? If the manufacturer were to discount the price to me to $2.75 if I ordered at least 80,000 units should I do it? Justify the answer with profit estimates. please use excel
1.What pricing strategy is the best suitable for your practice venture? Explain 2.Discuss the types of financial statements.
Holiday Inn is a travel agent and they are offering OMR 450 for complete tour cost to Malaysia. This includes; flight ticket, hotel, and taxi services. What kind of pricing is this? O a. Penetrating pricing b. Product bundle pricing O c. Discount pricing O d. All of the above

SEE MORE QUESTIONS

Recommended textbooks for you

Practical Management Science

Operations Management

ISBN:

9781337406659

Author:

WINSTON, Wayne L.

Publisher:

Cengage,

Operations Management

ISBN:

9781259667473

Author:

William J Stevenson

Publisher:

McGraw-Hill Education

Operations and Supply Chain Management (Mcgraw-hi…

Operations Management

ISBN:

9781259666100

Author:

F. Robert Jacobs, Richard B Chase

Publisher:

McGraw-Hill Education

Practical Management Science

Operations Management

ISBN:

9781337406659

Author:

WINSTON, Wayne L.

Publisher:

Cengage,

Operations Management

ISBN:

9781259667473

Author:

William J Stevenson

Publisher:

McGraw-Hill Education

Operations and Supply Chain Management (Mcgraw-hi…

Operations Management

ISBN:

9781259666100

Author:

F. Robert Jacobs, Richard B Chase

Publisher:

McGraw-Hill Education

Business in Action

Operations Management

ISBN:

9780135198100

Author:

BOVEE

Publisher:

PEARSON CO

Purchasing and Supply Chain Management

Operations Management

ISBN:

9781285869681

Author:

Robert M. Monczka, Robert B. Handfield, Larry C. Giunipero, James L. Patterson

Publisher:

Cengage Learning

Production and Operations Analysis, Seventh Editi…

Operations Management

ISBN:

9781478623069

Author:

Steven Nahmias, Tava Lennon Olsen

Publisher:

Waveland Press, Inc.

SEE MORE TEXTBOOKS

Michelle's Monopoly Mutant Turtles (MMMT) has the exclusive right to sell Mutant Turtle t-shirts in the United States. The demand for these t-shirts is Q = 10,000/P². The firm's short-run cost is SRTC = 2000 + 5Q, and its long-run cost is LRTC = 60