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Evaluate the strategic driftof the company and illustrate at which stage did Siemens experienced the strategic drift.
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- Consider the following statements about economic profits and accounting profits. Select all the statements which are true. Economic profits include both explicit and implicit costs, while accounting profits include only implicit costs Economic profits are always larger than accounting profits Publicly traded firms report accounting profits, not economic profits Firms that earn zero economic profits probably earn positive accounting profitsHow Resource Based View of the firm gives only an inadequate explanation of the performance of modern firms given the importance of firms' dependence on other firms in Global Value Chains?3. Definition of economic costs Jacques lives in San Francisco and runs a business that sells guitars. In an average year, he receives $711,000 from selling guitars. Of this sales revenue, he must pay the manufacturer a wholesale cost of $411,000; he also pays wages and utility bills totaling $279,000. He owns his showroom; if he chooses to rent it out, he will receive $1,000 in rent per year. Assume that the value of this showroom does not depreciate over the year. Also, if Jacques does not operate this guitar business, he can work as a financial advisor and receive an annual salary of $31,000 with no additional monetary costs. No other costs are incurred in running this guitar business. Identify each of Jacques's costs in the following table as either an implicit cost or an explicit cost of selling guitars. Implicit Cost Explicit Cost The wholesale cost for the guitars that Jacques pays the manufacturer The wages and utility bills that Jacques pays The rental income Jacques could…
- In the long run, should we perfectly competitive firms a positive accounting profit? Explain your reasoning.What is the profit maximization for apex firm if we have the following data quantitiy /unit ={0,1,2,3,4,5,6,7,8,9,10} total variable cost =[0,100,180,220,300,390,500,640,800,1000,1250} 2. If the market price dropped to $80, what is the profit-maximizing level of output? What is Apex’s profit (or loss) in this case?3. If the market price dropped further to $40, what is the profit-maximizing level of output? What is Apex’s profit (or loss) in this case?4. Comment on your answers to parts (2) and (3)The following table presents the expected cost and revenue data for the Tucker Tomato Farm. The Tuckers produce tomatoes in a greenhouse and sell them wholesale in a price taker market. Complete the table by calculating the firm's marginal cost, average variable cost, average total cost, and profit schedules. Round your answers to the nearest whole dollar figure. For example, round $316.66 to $317, or $321.42 to $321. Output (tons) 0 1 2 3 4 5 6 7 00 8 9 10 Total Cost ($ Per Ton) $500 $600 $650 $750 $900 $1,100 $1,350 $1,750 $2,300 $3,000 $3,900 Marginal Cost $ $ $ $ $ $ $ Average Variable Cost $ |$ Average Total Cost $ $ $ $ $ $ $ $ Profit at $250 per ton -$500 $ $ ԱՊԱ Դ || $ $ Profit at $200 per ton -$500 $ $ $ $ $ $ $ Profit at $150 per ton -$500 $ $ $ $ $ $ $ $
- How did GE lose $507 billion (more than 85 percent) of its market valuation since its peak? What went wrong?Olympus has integrated many components into its SLR camera. Recently, Olympus has introduced a smartphone app, Olympus Image Share (OI.Share) to pair with its camera. It says: "Paired with a compatible Olympus camera, the Olympus Image Share (OI.Share) smartphone app makes photography more enjoyable than ever. With this app, you can release the shutter remotely, then easily import photos from the camera to your smartphone and share your most inspiring moments with friends and family". a. How might this news be an example of non-price competition for an oligopolistic firm? Discuss.Looking at the Table, Profit, Cost and Revenue Functions, Quant is the quantity of output, C(Q) is the Total Cost of production for corresponding quantities of output, R(Q) is the corresponding Total Revenue at each level of output Q, if all output is sold and PRF(Q) is the Total Profit for each corresponding output level. PRF(Q) is calculated as R(Q)-C(Q). Using this information, does the company make its highest profit where R(Q) is highest? a. No, because the highest possible revenue may be at an output level where the cost of output may exceed the revenue generated at that output level. In this problem, the highest profit is at output level 15 Ob. Yes, because there is no way that cost can exceed revenue when revenue is maximized. Cc. No, because the highest possible revenue may be at an output level where the cost of output may exceed the revenue generated at that output level. In this problem, the highest profit is at output level 10 or 12 or in between. Od. Yes, because the…
- Use the following information to answer Questions 3 thru 5. 3. Suppose the kitchen knives industry is now operating in the long-run. What is the profit-maximizing level of output for firms in the long-run? Your answer should include only numbers. Submit response PLEASE NOTE - For Questions 3 thru 5, you need the following LCTC function: LRTC = 2q° – 8q² + 75q 4. How much will each kitchen knife be sold for when the market arrives at the long-run equilibrium? Do not include the $-sign or comma (,) in your answer. Round to the nearest cent only if necessary Submit response 5. How many firms will be producing kitchen knives when the market arrives at the long-run equilibrium? A. More than 930 firms. B. Fewer than 930 firms C. Exactly 930 firms.2. The following data of a particular firm choosing a netput vector at different prices was collected during the last financial period: at prices (1, 1), the firm’s netput vector is (−2, 5). At prices (3, 1), the firm’s netput vector is (−1, 2). At prices (1, 2), the firm’s netput vector is (−4, 10). a) Is this behaviour consistent with the profit-maximising model of the firm? b) Draw a precise graph of the largest possible production possibility set Z based on this data. Briefly describe how you obtained itIf a firm’s current revenues are less than its current variable costs, when should it shut down? If the firm decides to shut down, should we expect that decision to be final? Explain using an example that is not in the book.