Question 58 1 pt SCENARIO - answer this based on the information provided below: Two firms, Alpha and Beta, are the only competitors within the widget industry. They are located in the same city. Fixed costs for Alpha and Beta are the same and Beta pays a labor rate of $20.00 per hour. Widgets are viewed as a commodity. The following is given: Alpha: L/Q: = 5, P = 15, Quantity sold = 2 Beta: L/Q. = 8, P = 15, Quantity sold = 2 From the information above, TT for Alpha and Beta can be calculated to be: Alpha - 16, Beta - 10 Alpha - 40, Beta - 20 Alpha -20, Beta - 14 Alpha -10, Beta - 16 Question 59 1 pts SCENARIO - answer this based on the information provided below: Two firms, Alpha and Beta, are the only competitors within the widget industry. They are located in the same city. Fixed costs for Alpha and Beta are the same and Beta pays a labor rate of $20.00 per hour. Widgets are viewed as a commodity. The following is given: Alpha: L/Q: = 5, P = 15, Quantity sold = 2 Beta: L/Q: = 8, P = 15, Quantity sold = 2 Additionally, from the information above, it can also be stated that: Alpha has a competitive advantage over Beta Beta will have higher profits Alpha's TR cannot exceed $100. Beta must have a higher marginal cost of production. Both "a" and "d" above are correct Question 60 1 p SCENARIO - answer this based on the information provided below: Two firms, Alpha and Beta, are the only competitors within the widget industry. They are located in the same city. Fixed costs for Alpha and Beta are the same and Beta pays a labor rate of $20.00 per hour. Widgets are viewed as a commodity. The following is given: Alpha: L./Q. = 5, P = 15, Quantity sold = 2 Beta: Ls/Q. = 8, P = 15, Quantity sold = 2 From your calculations for the previous question, it can be observed that: Alpha, the more efficient firm, may lower price and capture market share Both Alpha and Beta will likely increase market share Both "c" and "d" above are correct Beta is free to raise prices, thereby increasing profit Beta is more efficient than Alpha Question 58 1 pt SCENARIO - answer this based on the information provided below: Two firms, Alpha and Beta, are the only competitors within the widget industry. They are located in the same city. Fixed costs for Alpha and Beta are the same and Beta pays a labor rate of $20.00 per hour. Widgets are viewed as a commodity. The following is given: Alpha: L/Q: = 5, P = 15, Quantity sold = 2 Beta: L/Q. = 8, P = 15, Quantity sold = 2 From the information above, TT for Alpha and Beta can be calculated to be: Alpha - 16, Beta - 10 Alpha - 40, Beta - 20 Alpha -20, Beta - 14 Alpha -10, Beta - 16 Question 59 1 pts SCENARIO - answer this based on the information provided below: Two firms, Alpha and Beta, are the only competitors within the widget industry. They are located in the same city. Fixed costs for Alpha and Beta are the same and Beta pays a labor rate of $20.00 per hour. Widgets are viewed as a commodity. The following is given: Alpha: L/Q: = 5, P = 15, Quantity sold = 2 Beta: L/Q: = 8, P = 15, Quantity sold = 2 Additionally, from the information above, it can also be stated that: Alpha has a competitive advantage over Beta Beta will have higher profits Alpha's TR cannot exceed $100. Beta must have a higher marginal cost of production. Both "a" and "d" above are correct Question 60 1 p SCENARIO - answer this based on the information provided below: Two firms, Alpha and Beta, are the only competitors within the widget industry. They are located in the same city. Fixed costs for Alpha and Beta are the same and Beta pays a labor rate of $20.00 per hour. Widgets are viewed as a commodity. The following is given: Alpha: L./Q. = 5, P = 15, Quantity sold = 2 Beta: Ls/Q. = 8, P = 15, Quantity sold = 2 From your calculations for the previous question, it can be observed that: Alpha, the more efficient firm, may lower price and capture market share Both Alpha and Beta will likely increase market share Both "c" and "d" above are correct Beta is free to raise prices, thereby increasing profit Beta is more efficient than Alpha