Gulf coast boat sales had a beginning inventory for june of $1,500,000. they purchased $275,000 in goods during june. their income from sales was $900,000 with 15,500 in returns. their ending inventory was 1,200,000. their operating expenses were $80,000.
a) what was the amount of goods available for sales?
b)what was the coast of goods sold?
c)what were the net sales?
d)what was the gross profit?
e) was there an excess or deficit?
f) what was the net profit or net loss?
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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?