Find the cost equation for flashlight production

Assignment Help Econometrics
Reference no: EM131175903

The Amalgamated Flashlight Company shows a profit of $4,500 on a production of 6000 flashlights and a profit of $10,500 when the production is 10,000

(a) If flashlights sell for $2.25 apiece, find the cost equation for flashlight production.

(b) Plot cost and revenue on the same axes and locate the break-even point.

(c) Suppose that the capacity of the flashlight assembly line is 30,000 flashlights. How must the price be set to make possible a $90,000 profit?

Reference no: EM131175903

Questions Cloud

Discuss the underlying assumptions and implications : Discuss the underlying assumptions and implications. If referring to a research article, present the methodology, where relevant, and discuss any practical issues or reasons to question the author's perspective.
Find the overhead and the marginal cost of a figurine : A manufacturer of small glass figurines discovers that it costs $1,800 for a production run of 1000 and $2200 for a production run of 1500. Assuming that cost is a linear function of number of items, find the overhead and the marginal cost of a fi..
Cross cultural framework to the four countries : Try as best you can to apply the Kluckhohn-Strodtbeck cross-cultural framework to the four countries discussed in this chapter:- Where do you think these countries lie on each of the cultural issues?
Discuss the strategic value of personnel training : Discuss the strategic value of personnel training and development. What are the implications for the MNC
Find the cost equation for flashlight production : Suppose that the capacity of the flashlight assembly line is 30,000 flashlights. How must the price be set to make possible a $90,000 profit?
Analyze the company strategic approach to globalization : Analyze the company's strategic approach to globalization and their approach to competition, sustainability, CSR, marketing, analysis (external, internal, industry), and cross border issues
Determine the pricing of competitors : Sometime you need to wait until you determine the pricing of competitors. The reason why is simply because you do not know their pricing structure.
What are the issues confronting thomas in this case : What are the issues confronting Thomas in this case? -  How well is Thomas dealing with these issues? -  What suggestions would you have for Thomas in managing this project?
Explain factor that will affect demand and prices of product : Define the type of market in which your selected product will compete, along with an analysis of competitors and customers. Explain the factors that will affect demand, supply, and prices of that product.

Reviews

Write a Review

Econometrics Questions & Answers

  Design a simple econometric research project

Design a simple econometric research project

  Multiplicative decomposition method

Multiplicative decomposition method

  Market for cigarettes

The Australian government administers two programs that affect the market for cigarettes.

  Solve the forecast model

Solve the forecast model

  What are the marginal abatement cost functions

What are the marginal abatement cost functions for each of the two areas? Calculate the loss in the two areas due to over-control (for the rural area) and under-control (for the urban area).

  Write the t statistic for testing the null hypothesis

Explain why this model violates the assumption of no perfect collinearity.  Write the t statistic for testing the null hypothesis

  What is economics system

What is economics system? What are the types of economics system? Briefly explain each type of economics system by giving examples of nations that are close to each type

  Multiple choice questions related to market concentration

Determine when a competitively produced product generates negative externalities in production, the industry will,

  Calculating number of units produced by firm

Assume a company has the following production function: Q = 100 K.5 L1 . Currently, the company hires 1,000 workers and employs 100 units of capital.

  Question about mobile commerce

M-commerce also known as mobile commerce is being lumped in with several strategic internet plans. Explain some of the industries that are likely to use mobile commerce and how it is working for them.

  Calculating the average days past due and average flow time

Auto Data manufactures custom engineering testing machine. The following 5-orders are currently in the design department:

  Mechanism of an english auction and second price auction

Briefly discuss the difference between mechanism of an oral or English auction and a Vickrey or second price auction.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd