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The Last Outpost is a tourist stop in a western resort community. Kerry Yost, owner of shop, sells hand woven blankets for an average price of 30 dollar per blanket. Kerry buys the blankets from weavers at an average cost of $21. In addition, he has selling expenses of $3 per blanket. Kerry rents the building for $300 per month and pays one employee a fixed salary of $500 per month.
1. Determine the number of blankets Kerry must sell to break even.2. Determine the number of blankets Kerry must sell to generate a profit of $1,000 per month.3. Assume that Kerry can produce and sell his own blankets at a total variable cost of $16 per blanket, but that he would need to hire one additional employee at a monthly salary of $600.a. Determine the number of blankets Kerry must sell to break even.b. Determine the number of blankets Kerry must sell to generate a profit of $1,000 per month.
Utech Corporation bottles and distributes Livit, a diet soft drink. The beverage is sold for 50 cents per sixteen ounce bottle to retailers, who charge customers 75 cents per bottle.
In Chicago 120 people are wants to work as cashiers if the wage is $6 a hour. For each $1 that the wage rises above $6 an additional 40 people are wants to work as cashiers.
Monopoly with two production plants and cost functions of C1 = 50 + 0.1 Q1^2 and C2 = 30 + 0.05 Q2^2. Compute the profit maximizing level of output
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The following table shows information for a simple production function. From the data in the table, calculate marginal and average products.
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