A large manufacturing company produces computer printers that are distributed and sold all over Europe. Due to lack of industry information, the company has a difficult time ascertaining its market share in different parts of the continent. They hire a market research firm to estimate their market share in a northern country and a southern country. They would also like to know whether there is a difference in their market shares in these two countries; if so, they want to estimate how much. The market research firm randomly selects printer customers from different locales across both countries and determines what brand of computer printer they purchased. The following Minitab output shows the results from this study. Discuss the results including sample sizes, estimation of the difference in proportions, and any significant differences determined. What were the hypotheses tested?

Profit maximization using total cost and total revenue curves Suppose Sam runs a small business that manufactures frying pans. Assume that the market for frying pans is a competitive market, and the market price is $20 per frying pan. The following graph shows Sam’s total cost curve. Use the blue points (circle symbol) to plot total revenue and the green points (triangle symbol) to plot profit for the first seven frying pans that Sam produces, including zero frying pans. Calculate Sam’s marginal revenue and marginal cost for the first seven frying pans he produces, and plot them on the following graph. Use the blue points (circle symbol) to plot marginal revenue and the orange points (square symbol) to plot marginal cost. Sam’s profit is maximized when he produces frying pans. When he does this, the marginal costs of the last frying pan he produces is $ , which is then the price Sam receives for each frying pan he sells. The marginal cost of producing an additional frying pan (that is, one more frying pan than would maximized his profit) is $ , which than the price Sam receives for each frying pan he sells. Therefore, Sam’s profit-maximizing quality corresponds to the intersection of the curves. Because Sam is a price taker, this last condition can also be writen as .