Using a payoff matrix to determine the equilibrium outcome suppose there are only two firms that sell smartphones: flashfone and pictech. the following payoff matrix shows the profit (in millions of dollars) each company will earn, depending on whether it sets a high or low price for its phones. pictech pricing high low flashfone pricing high 11, 11 2, 18 low 18, 2 10, 10 for example, the lower-left cell shows that if flashfone prices low and pictech prices high, flashfone will earn a profit of $18 million, and pictech will earn a profit of $2 million. assume this is a simultaneous game and that flashfone and pictech are both profit-maximizing firms. if flashfone prices high, pictech will make more profit if it chooses a price, and if flashfone prices low, pictech will make more profit if it chooses a price. if pictech prices high, flashfone will make more profit if it chooses a price, and if pictech prices low, flashfone will make more profit if it chooses a price. considering all of the information given, pricing high a dominant strategy for both flashfone and pictech. if the firms do not collude, what strategies will they end up choosing.

Long-distance providers are becoming increasingly concerned about certain activities within their industry. various companies come together voluntarily to implement new standards of social responsibility that members must abide by. what seems to be the primary motivation in this case for an increased interest in social responsibility? - because corporations are creations of society, they are responsible for giving back to the communities in which they operate.- these companies have realized it is in their best interest to increase their social responsibility before they are once again subject to stricter regulations.- these companies are using social responsibility as a means to increase their profitability, both short term and long term.- long-distance providers have started taking pride in their industry and its record for social responsibility.- they feel a responsibility to their stockholders, employees, the government, investors, and society as a whole.

Laval produces lamps and home lighting fixtures. its most popular product is a brushed aluminum desk lamp. this lamp is made from components shaped in the fabricating department and assembled in the assembly department. information related to the 22,000 desk lamps produced annually follows.direct materials $280,000direct labor fabricating department (8,000 dlh × $24 per dlh) $192,000assembly department (16,600 dlh × $26 per dlh) $431,600machine hours fabricating department $15,200mhassembly department $20,850mhexpected overhead cost and related data for the two production departments follow.fabricating assemblydirect labor hours 150,000dlh 295,000dlhmachine hours 161,000mh 128,000mhoverhead cost $400,000 430,000required1. determine the plantwide overhead rate for laval using direct labor hours as a base.2. determine the total manufacturing cost per unit for the aluminum desk lamp using the plantwide overhead rate.3. compute departmental overhead rates based on machine hours in the fabricating department and direct labor hours in the assembly department.4. use departmental overhead rates from requirement 3 to determine the total manufacturing cost per unit for the aluminum desk lamps.

Oliver is the vice president of production at his company and has been managing the launch of new software systems. he worked with a team of individuals who were tasked to create awareness about a specific product and also to approach potential purchasers of the product. which department managers were part of oliver’s team?