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1. After a 10 percent price discount, a company found that its weekly sales increased by 30 percent. If the marginal cost (MC) of this product is $40 each, determine the optimal price for this product?
2. Suppose the total cost equation for a competitive firm is given by:TC=1,000+ 10Q -2Q^2 + 0.5Q^3(A) At what output is the average variable cost (AVC) at a minimum?
(B) If the market price of the firm's output is $7.5 per unit, should the firm produce or shut down?
The fresh milk market in Honolulu is purely competitive. The typical production cost is defined through a a cubic cost schedule as given below.
ABC corporation is a holding company with three subsidiaries. The following information pertains to these subsidiaries:
Explain whether the firm will make economic profit, In the short run and In the long run.
Assume a company is operating at the minimum point of its short-run average total cost curve, so that marginal cost equals average total cost.
College A is planning outsourcing their groundskeeping. They have been given a bid from Groundskeeper Willie for $250,000 a year, with the claim that he will keep school grounds in the same condition they are in now.
Draw the individual cost curves on one graph: marginal cost, average total cost, average ?xed cost, and average variable cost. Place costs ($) on the y-axis and quantity (Q) on the x-axis.
Consider a manufacturer with 2-factories. They can make at either factory or both. However, we need to consider the quantities that will be produced at every factory.
The total monthly cost for marketing this product is composed of $3000 additional administrative expenses and $50 each unit for production and distribution costs.
Make some research on a topic known to economists as 'friction-free' or 'low-friction' economy. Early writers on this topic foresaw many of the seismic shifts that have occurred in the market place over last one to 2-decades.
If a manager that takes over a furniture factory and realizes immediately that it was throwing away at least $100,000 a year worth of wood scrap
A case study states that the concession stand accounts for well over half the profits at most theaters. Determine, what are the benefits of staggered movie times allowed through multiple screens?
Determine what are voluntary export restraint contracts and explain why do some governments force foreign exporters into them instead of just using quotas or tariffs to restrict imports by the same amounts?
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