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Market Structures, Break-Even, and Cost Management" Please respond to at leas two of the following: • From past Katrina Candies scenarios, determine what their appropriate market structure is. Cite at least four (4) defining characteristics that have helped you reach this decision regarding the appropriateness of the chosen structure.
OR • After watching this week's scenario for Katrina’s Candies (KC), assume they currently face monthly fixed costs of $90,0000. If a box of KC sugar-free chocolate sells for $12.00 and the per unit variable cost is $7.00, how many boxes of candy does KC need to sell in order to break-even? What dollar value of sales do they need to break even? Now suppose KC is considering buying a new machine that will add an additional $8,000 to their monthly fixed costs but will reduce their per unit variable costs to $6.00. Should they buy this new machine? Explain
AND • Imagine that you are a manager of a chemical company. An accident has occurred in which chemicals leaked into the ground water nearby. The community is unaware of the accident. Compare the primary costs involved in cleaning up the water immediately (and thus confessing) versus hiding your culpability now and possibly paying more in the future. Predict the impact on profitability in both situations.
The theory of public choice suggests that
Suppose that the income of the average Canadian household increases because a larger percentage of women enter the labour force. What do you think will happen to demand for the following products or services? What does your answer imply about income ..
Why do you think that economic profit may be a better measure of profit than purely accounting profit? Why would accountants be well advised to broaden their perspectives when it comes to the interpretation of costs?
The Commerce Department is considering lifting the ban on the import of Brazilian oranges (the world’s largest producer of oranges) into the United States. In your explanation, be sure to distinguish between a change in demand and a change in quantit..
The price-quantity relationship has been estimated for a new prostate cancer blood test; Q = 4,000 – (20 x P). Use a spreadsheet to calculate the quantity demanded and total spending for prices ranging from $200 to $0, using $50 increments. For each ..
What would happen to the demand curve in each of the following cases:
A. Write the direct demand function in the form Q=a+bP. B. Write the inverse demand function in the form P=A+BQ
Question 2.2. Before Keynes, most economists and politicians believed in a cyclically balanced budget.
In an attempt to increase revenues and profits, a firm is considering a 4 percent increase in price and an 11 percent increase in advertising. If the price elasticity of demand is -1.5 and the advertising elasticity of demand is +0.6, would expect an..
Your savings account was earning 3% interest. What are explicit and implicit costs of your decision. What is total opportunity cost this year of starting shop.
Expectations and consumer confidence are important in determining fluctuations in aggregate spending. In your opinion, what is the present status of consumer confidence.
Conduct a goodness-of-fit test analysis to determine if the proportions of individuals willing to pay more for environmenlal.ly friendly products in the various age groups are equal.
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