Bravo company manufactures quality gentlemen's clothing. the following selected financial information for the fiscal year 2016 is provided: item amount sales $100,000 cost of goods manufactured 75,000 direct material purchased 40,000 factory overhead 10,000 work in process - january 1 30,000 work in process - december 31 15,000 direct material - december 31 10,000 finished goods inventory - december 31 60,000 net income 15,000 direct materials used 30,000 cost of goods sold 55,000 use this information to determine the dollar amount of bravo's direct labor costs for the fiscal year 2016. (round dollar values & enter as whole dollars only.)

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?