Florida is the biggest sugar-producing state, but Michigan and Minnesota are home to thousands of sugar beet growers. Sugar prices in the United States average about 20¢ per pound, or more than double the world-wide average of less than 10¢ per pound given import quotas that restrict imports to about 15% of the U. S. market. Still, the industry is perfectly competitive for U. S. growers who take the market price of 20¢ as fixed. Thus, P = MR = 20¢ in the U. S. sugar market. Assume that a typical sugar grower has fixed costs of $45,000 per year. Total variable cost (TVC) for the typical farmer is: where q is pounds of sugar, total costs include a normal profit. a. Calculate the profit-maximizing short-run supply curve for a typical grower and determine the quantity that a typical grower will supply under the prevailing average market price. b. Calculate the average variable cost curve for a typical grower and verify that average variable costs are less than price at this optimal activity level.

in 2001, dell computer became the world’s largest personal computer vendor, continuing to

gain market share and post profits in an industry struggling with slumping sales and billions of

dollars in losses. dell sells 90% of its pcs directly to the final customer, largely bypassing the

reseller channel that accounts for most of the world’s pc sales. this direct customer relationship

is the key to dell’s business model, and provides distinct advantages over the indirect sales

model. dell’s direct relationship with the customer allows it to tailor its offerings to customer

needs, offer add-on products and services, and use the internet to offer a variety of customer

services. in addition, dell’s pcs are built to customers’ specifications upon receipt of an order,

giving dell additional advantages over indirect pc vendors who must try to forecast demand and

ship products based on those forecasts. dell’s direct sales and build-to-order model has achieved

superior performance in the pc industry in terms of inventory turnover, reduced overhead, cash

conversion, and return on investment (kraemer, et al., 2000).

explanation:

turnover

the amount of money taken by a business in a particular period.

answer; false pretense;