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The Goldberg-Scheinman Publishing Company is publishing a new managerial economics text for which it has estimated the following total fixed and average variable costs:
Total Fixed Costs:
Copy Editing = $10,000
Typesetting = $70,000
Selling and Promotion = $20,000
Total Fixed Costs = $100,000
Average Variable Costs:
Printing and Binding = $6
Administrative Costs = $2
Sales Commissions = $1
Bookstore Discounts = $7
Author's Royalties = $4
Average Variable Costs = $20
Project Selling Price = $30
a). Determine the breakeven output and total sales revenues and draw the cost-volume-profit chart, and
b). determine the output that would generate a total profit of $60,000 and the total sales revenues at the output level; draw the cost-volume-profit chart.
Given below are the cost schedules for a perfectly competitive firm. Average Average Variable Total Marginal Quantity Cost Cost Cost 1 $ 50 $ 90 $ 50 2 45 65 40 3 40 53 30 4 35 45 20 5 34 42 30 6 35 41 40 7 37 43 50 8 40 45 60
when I was talking about insurance, when I ask about the maximum this person would pay to buy insurance I said that it would be the risk premium: $4823.1 - Then I derived the utility in this case, with certainty this person has wealth $100,000 + $..
Value Lodges owns an economy motel chain and is considering building a new 200-unit model. The cost to build is estimated at $8,000,000; estimates for motel furnishings will cost an additional $700,000 and will require replacement every 5 years. A..
The Committee will closely monitor incoming information on economic and financial developments in coming months. If the outlook for the labor market does not improve substantially, the Committee will continue its purchases of agency mortgage-back..
Which point flat of the curve medicine is experienced in the following example (imagine that antibiotics have been prescribed for a given population of 1000 elderly persons. Number of prescriptions 0,100,200,300,400,500.
Why would increased spending as a percentage of GDP on, say, household appliances or education in a particular economy be regarded as economically desirable. Why, then, is there so much concern about rising expenditures as a percentage of GDP on h..
Using the following equation for the demand for a good or service, calculate the price elasticity of demand,cross price elasticity with good x, and income elasticityt. Q= 8 - 2p + 0.10I + Px, Where Q is quantity demanded, p is the price, I is inco..
Determine the output level, price, and profits that will occur in long-run equilibrium. Assume a high-price, low-output scenario assuming a parallel shift of the firm's demand curve. Be sure to explain what you are doing and why.
Aid to Families with Dependent Children (AFDC) was established with the Social Security Act of 1935. The family was given an income subsidy depending on family size. Under this program, the family's benefit was reduced by $1 for every dollar earne..
Derive the intertemporal Euler equation and what is the optimal level of C1 given the endowments, R, and ? What?s theoptimal level of C2?
At the end of their useful lives, both A and B may be purchased with the same cost, benefits, and so forth. If the MARR is 12%, which alternative should be selected based on the internal rate of return using the least common multiple approach.
Suppose David spends his income (I) on two goods, x and y, whose market prices are px and py, respectively. His preferences are represented by the utility function u(x; y) = lnx + 2lny (MUx = 1=x;MUy = 2=y). Repeat part (b) for the case in which px..
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