Assume there currently exists a monopolistically competitive industry with 21 firms, and that total revenue (price * quantity) for firm #1 is [(180 - 0.2σqj) - q1] * q1 where q1 represents the output of firm 1, and the qj (j = 2,3, ,21) represent the outputs of its 20 competitors. assume that each firm has the identical total cost function tc = 0.5q3 - 21q2 + 300q 1. derive the expression for firm 1’s marginal revenue (mr1) assuming – albeit inconsistently – that both: (a) like any cournot-type competitor, firm 1 ignores the indirect effects of its output choice [cvs equal to zero], and (b) all other 20 firms will produce the same quantity as firm 1. 2. when setting this mr1 equal to marginal cost, what is the corresponding short run profit-maximizing level of output for firm 1? 3. at this (common) output level, what price will firm 1 charge?

Suppose the following items were taken from the balance sheet of nike, inc. (all dollars are in millions.) 1. cash $ 2,316.7 7. inventory $ 2,245.6 2. accounts receivable 2,786.2 8. income taxes payable 80.3 3. common stock 2,841.1 9. equipment 1,783.8 4. notes payable 291.2 10. retained earnings 6,162.5 5. buildings 3,959.7 11. accounts payable 2,624.6 6. mortgage payable 1,092.3 perform each of the following. classify each of these items as an asset, liability, or stockholders’ equity, and determine the total dollar amount for each classification. (enter amounts in millions up to 1 decimal place, e. g. 45.5 million.) cash accounts receivable common stock notes payable buildings mortgage payable inventory income taxes payable equipment retained earnings accounts payable assets $ 13092 liability $ 4088.4 stockholders’ equity $ 9003.6 etextbook and media determine nike’s accounting equation by calculating the value of total assets, total liabilities, and total stockholders’ equity. (enter amounts in millions up to 1 decimal place, e. g. 45.5 million.) total assets = total liabilities + total stockholders’ equity

Cynthia is a hospitality worker in the lodging industry who prefers to cater to small groups of people. she might want to open a

Garfield corporation is considering building a new plant in canada. it predicts sales at the new plant to be 50,000 units at $5.00/unit. below is a listing of estimated expenses. category total annual expenses % of annual expense that are fixed materials $50,000 10% labor $90,000 20% overhead $40,000 30% marketing/admin $20,000 50% a canadian firm was contracted to sell the product and will receive a commission of 10% of the sales price. no u. s. home office expenses will be allocated to the new facility. the contribution margin ratio for garfield corporation is