The cost of a plant is $25.95 for the florist. He purchases 300 of these hanging plants. What is the total cost to the florist?
What will be an ideal response?
$7,785
Multiply the cost by the number of items purchased.
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What will be an ideal response?
For products where the firm has market power, coordination in the supply chain can be achieved and supply chain profits maximized through the use of
A) two-part tariffs or volume based quantity discounts. B) marginal unit quantity discounts. C) all unit quantity discounts. D) basic quantity discounts.
In Eastman Kodak v. Image Technical Services, Kodak was charged with tying the sale of service of their copiers and other equipment to the sale of parts. The Supreme Court ruled:
a. no tying arrangement existed because the markets for service and sale of parts overlapped b. a tying arrangement existed and Kodak had potential monopoly power c. a tying arrangement existed, but Kodak held a small share of the market for service and parts, so rule of reason analysis allowed the arrangement to stand d. no tying arrangement existed because independent service organizations could purchase Kodak parts fromKodak whenever they so desired e. no tying arrangement was proved to have existed, so there could be no antitrust illegality
________ produces the lowest cost of goods sold and the highest gross profit when prices are increasing.
A) FIFO B) LIFO C) Average cost D) Specific identification