At world spice market, inc., the department manager uses a hand-held scanner to determine the quantity of each spice the store has on its shelves, how many jars of each spice was sold the past week and the past month, and exactly when the next shipment of these spices is expected to arrive. world spice market embraces the strategy of

The link between volume of production and the cost of building manufacturing operations is particularly important in industries characterized byanswers: process innovations. product manufacturing. product innovation. process manufacturing.

Social computing forces companies to deal with customers as opposed to

Suppose that two firms produce differentiated products and compete in prices. as in class, the two firms are located at two ends of a line one mile apart. consumers are evenly distributed along the line. the firms have identical marginal cost, $60. firm b produces a product with value $110 to consumers. firm a (located at 0 on the unit line) produces a higher quality product with value $120 to consumers. the cost of travel are directly related to the distance a consumer travels to purchase a good. if a consumerhas to travel a mile to purchase a good, the incur a cost of $20. if they have to travel x fraction of a mile, they incur a cost of $20x. (a) write down the expressions for how much a consumer at location d would value the products sold by firms a and b, if they set prices p_{a} and p_{b} ? (b) based on your expressions in (a), how much will be demanded from each firm if prices p_{a} and p_{b} are set? (c) what are the nash equilibrium prices?