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Kathy's Bakery is a local full-service bakery in Omaha, Nebraska. Kathy sells loaves of wheat bread for $3 a loaf. Of this amount, $1.50 is profit contribution. She is considering an attempt to differentiate her shop from several other competitors by only producing a special rice bread for customers allergic to wheat. Doing so would increase her unit cost by 50¢ per rice loaf. Current monthly profits are $400 on 800 unit sales.A. Assuming average variable costs are constant at all output levels, what is Kathy's total cost function before the proposed change?B. What will the total cost function be if rice loafs are produced?C. Assume rice loaf prices remain stable at $3. What percentage increase in sales would be necessary to maintain current profit levels?
Suppose there are n identical firms in a market. Each firm has fixed cost equal to 392, and variable cost given by VC=2q^2, where q is the amount that an individual firm produces. This means that an individual firm's marginal cost is given by MC=4..
ASB2505-3505 - Comparative Banking Review the theoretical relationships between market structure and bank performance and explain what is meant by market power and how it affects bank performance.
The cross-tabulation below classifies US states by median household income and by household Gini coefficient (a measure of income inequality). Use the cross-tabulation to answer the questions that follow.
An economic bad is something you don't want to consume, i.e. less bad is better. Define an economic bad mathematically and name one economic bad in reality. Suppose you had to consume a certain amount of a given economic bad but could pay to get r..
Lenders perceive that you are risky, so you must pay 12 percent annual interest to borrow from one of them. You only receive 6 percent on funds you have deposited in the bank. Do the opportunity costs of borrowing and using your own funds differ.
Suppose a production possibilities frontier includes the following combinatinos: Cars Washing Machines 0 1,000 100 600 200 0 a)graph the PPF, assuming that is has no curved segments b)what is the cost of producing..
Determine the two equal deposits, the first deposit required now and the second deposit at the end of year 6, so that you can withdraw $2,000 at the end of each year for the next 12 years. Assume that money earns 4% interest, compounded monthly.
A corporation is interested in knowing which potential sales are next year if you use $20,000 in advertising expenses. The corporation uses the data from previous years to make its sales forecast.
In 1951, Coke used to cost $0.37 for a pack of 6, an average house was worth about $16000, and a car was $1400 to 2200. All these goods are much more expensive now, and yet we buy and consume more of these things today than we did in 1951. Does th..
With the per-unit prices of broccoli (B) and pork rinds (R) equal to $2 and $1 respectively, a consumer George, with an income of $1,000 purchases 400R and 300B. At that point, the consumer's MRSBR = 2R/1B.
1. Job A pays $30,000 a year. Job B is completely identical in all aspects except it is located in an area that has a 10% higher cost of living. In order to compete, Job B would need to pay. This is known as a. 2. Explain the difference ..
demand and supply schedules for rental apartment in the city of Gotham are given below Monthly Rent $2500 $2000 $1500 $1000 $500 Apartment Demanded 10,000 12,500 15,000 17,500 20,000 Apartment Supplied 15,000 12,500 10,000 7,500 5,000 Suppose a ne..
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