V= 30000/ (0.4- 0.16) V= 125000 units 3. If the new price is p= 0.60, Then the break even volume will decrease. We don’t need to sell as much units as before to break even. Proof: V= 30000/ (0.6- 0.16) V= 68181.81 units 4. If we increase advertising, that means CF increases, then the Break even volume will increase, because the cost of the production increased. Proof; V= 30000+ 14000/ (0.6- 0.16) V= 100000 units 5.we have Cf= 5600, cv= 0.35, p= ?; v=
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Ch 11 #1, 2, 4, 6, 7(DW), 12(DW), 18, 21, 22, TW11 Question 1. Based on the best available econometric estimates, the market elasticity of demand for your firm’s product is -1.50. The marginal cost of producing the product is constant at $75, while average total cost at current production levels is $200. Determine your optimal per unit price if: a. You are a monopolist. b. You compete against one other firm in a Cournot oligopoly. c. You compete against 19 other firms in a Cournot oligopoly
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| 2.) Suppose that a firm has only one variable input, labor, and firm output is zero when labor is zero. When the firm hires 6 workers it produces 90 units of output. Fixed cost of production are $6 and the variable cost per unit of labor is $10. The marginal product of the seventh unit of labor is 4. Given this information, what is the total cost of production when the firm hires 7 workers? |a. |$66
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| 2.) Suppose that a firm has only one variable input, labor, and firm output is zero when labor is zero. When the firm hires 6 workers it produces 90 units of output. Fixed cost of production are $6 and the variable cost per unit of labor is $10. The marginal product of the seventh unit of labor is 4. Given this information, what is the total cost of production when the firm hires 7 workers? |a. |$66
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worse off than are made better off. Statement (b) is positive because it states what the effect of gasoline rationing is without making a value judgment about the desirability of the rationing policy. 2. From the textbook page 18: Questions for Review #6 The price of long-distance telephone service fell from 40 cents per minute in 1996 to 22 cents per minute in 1999, a 45-percent (18 cents/40 cents) decrease. The CPI increased by 10 percent over this period. What happened to the real price of telephone
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Unit III Homework Chapter 5 Answer 3. (Aggregate Demand and Supply) -When the price of a certain product increases, the quantity demanded declines due to the fact that, the product becomes more costly compared to substitutes ( McEachern, 2015 p. 78). The market demand curve is affected by changes in consumer tastes and typically increases shifts to the right with increases in income, increases in the price of substitute goods, or decreases in the price of complementary goods. -On the other
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BTEC UNIT 4 Assignment: Verbal and Written Business Communication Getting started To complete this assignment you will need to produce a portfolio which looks at communications in business. The portfolio should be based around the following case study. Case Study The Red Lion Hotel is a medium sized business which has expanded over recent years and hopes to continue to do so in the future. Its business aim is to deliver quality accommodation and a first class service to guests
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BACHELOR OF COMMERCE (B.COM.,) PAPER – 2.1 MANAGERIAL ECONOMICS UNIT – I CHAPTER - I SECTION - I Definition of Managerial Economics Managerial economics refers to those aspects of economics and its tools of analysis most relevant to the firm’s decision-making process. According to MeNair and Meriam, managerial economies consists of the use of economic models of thought to analyze business situations. Some writers consider managerial economics as the integration
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of peanuts supplied increased from 40 tons per week to 60 tons per week when the price of peanuts increased from $4 per ton to $5 per ton. The price elasticity of supply for peanuts over this price range is (A) Elastic (B) Inelastic (C) unit elastic (D) perfectly elastic (E) perfectly inelastic 3. Which of the following best describes the law of demand? (A) The price of a good increases when the demand for the good increases. (B) The price of a good decreases when
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Btec National Extended Diploma Sport Unit 4 Fitness Training & Programming Unit 7 Fitness Testing for Sport & Exercise Science [pic] Student Name: Callum Mcvay |P1 | Scenario Fitness is vital to achieving success in sport, and testing plays a valuable role in the development of fitness. Individuals who are serious about
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