SCM 2160 05 forecasting activity - with answers

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(d) Find the profit maximizing price. (e) Find the profit maximizing quantity. (f) Find the profit the firm will earn.

Price and cost (dollars per student) $150 120 88 76 72 ATC 40 - MC MR 24,000 30,000 36,000 Quantity of students enroiled 15,000 Your college decides to offer a psychology course as a MOOC that can be taken by students anywhere in the world, whether they are actually enrolled in your college or not. The demand and cost situation for the MOOC is shown in the figure. The faculty member who designed the course argues: "I think the course should be priced so that the maximum number of students enroll." Which price should this faculty member favor? O A. $0 В. $40 C. $88 D. $150

The diagram shows the price, marginal cost and average cost curves facing a perfectly competitive firm in the short run. What is the total revenue of the profit maximising firm in the short run? a) R720 b) R800 c) R960 d) R2 000 20 2 Cost, price (Rand) MC I 100 60 80 Output per day AC AVC Price

Quantity Price ($) Total Revenue ($) Marginal Revenue ($) Total Cost ($) Marginal Cost ($) Average Cost($) 2 24 48 23 35 2.5 17.5 4 23 92 21 45 5 11.25 6 22 132 19 60 7.5 10 8 21 168 17 77 8.5 9.63 10 20 200 15 100 11.5 10 12 19 228 13 126 13 10.5 14 18 252 11 165 19.5 11.79 16 17 272 9 210 22.5 13.13 18 16 288 7 260 25 14.44 20 15 300 5 320 30 16   The table above is for a monopolistic competitive firm. What price will the firm charge? Question 19 options:   $13   $15   $19   $24

Quantity Price ($) Total Revenue ($) Marginal Revenue ($) Total Cost ($) Marginal Cost ($) Average Cost($) 2 24 48 23 35 2.5 17.5 4 23 92 21 45 5 11.25 6 22 132 19 60 7.5 10 8 21 168 17 77 8.5 9.63 10 20 200 15 100 11.5 10 12 19 228 13 126 13 10.5 14 18 252 11 165 19.5 11.79 16 17 272 9 210 22.5 13.13 18 16 288 7 260 25 14.44 20 15 300 5 320 30 16   The table above is for a monopolistic competitive firm in the short run. What will the firm's profit equal in the long run?  Question 21 options:   $0   $91   $102   $228

Quantity Price ($) Total Revenue ($) Marginal Revenue ($) Total Cost ($) Marginal Cost ($) Average Cost($) 2 24 48 23 35 2.5 17.5 4 23 92 21 45 5 11.25 6 22 132 19 60 7.5 10 8 21 168 17 77 8.5 9.63 10 20 200 15 100 11.5 10 12 19 228 13 126 13 10.5 14 18 252 11 165 19.5 11.79 16 17 272 9 210 22.5 13.13 18 16 288 7 260 25 14.44 20 15 300 5 320 30 16   The table above is for a monopolistic competitive firm. What will the firm's profit equal in the short run? Question 20 options:   $0   $91   $102   $228

Please no written by hand and no emage

Activity Frame A 2191 A 1878 1565 n 1252 939 626 0 A + + 0 5 10 TOTAL REVENUE (Dollars) 3130 2817 2504 MARGINAL REVENUE (Dollars) 313 Calculate the total revenue if the firm produces 10 versus 9 units. Then, calculate the marginal revenue of the 10th unit produced. The marginal revenue of the 10th unit produced is $ Calculate the total revenue if the firm produces 20 versus 19 units. Then, calculate the marginal revenue of the 20th unit produced. The marginal revenue of the 20th unit produced is $ 250 Based on your answers from the previous question, and assuming that the marginal revenue curve is a straight line, use the black line (plus symbol) to plot the firm's marginal revenue curve on the following graph. 225 200 175 150 125 100 75 50 25 0 15 20 25 30 35 40 QUANTITY (Number of units) -25 -50 0 A 45 50 5 10 15 Total Revenue 20 25 30 35 QUANTITY (Units) 40 45 50 Marginal Revenue (?) Comparing your total revenue graph to your marginal revenue graph, you can see that total revenue is…

PRICE (Dollars per room) 500 450 400 350 300 250 200 150 100 50 0 0 Demand + 50 100 150 200 250 300 350 400 450 500 QUANTITY (Hotel rooms) Graph Input Tool Market for Oceans's Hotel Rooms Price (Dollars per room) Quantity Demanded (Hotel rooms per night) Demand Factors Average Income (Thousands of dollars) Airfare from DSM to ACY (Dollars per roundtrip) Room Rate at Meadows (Dollars per night) 300 200 40 200 rooms per night to ,hotel rooms at the Oceans and hotel rooms at the Meadows are 200 For each of the following scenarios, begin by assuming that all demand factors are set to their original values and Oceans is charging $300 per room per night. If average household income increases by 50%, from $40,000 to $60,000 per year, the quantity of rooms demanded at the Oceans rooms per night to rooms per night. Therefore, the income elasticity of demand is Oceans are ? from meaning that hotel rooms at the If the price of a room at the Meadows were to decrease by 20%, from $200 to $160,…

B Product Product A Product B Product C Product D Widget 1 Widget 2 Widget 3 Gadget X Gadget Y Gadget Z 3 4 5 6 7 8 9 10 11 12 13 14 15 16 Required: 17 Calculate the following statistics for both Advertising Expenses and Sales: 18 Advertising Expense Sales Advertising Expense $36,900 $38,000 $33,000 $25,900 $26,000 $42,987 $39,008 $42,009 $19,067 $61,002 C $19,067 $61,002 $135,568,977 $8,268 $36,387 $37,450 $41,935 $27,750 $41,259 Sales $83,025 $85,500 $74,250 $90,650 $91,000 $150,455 $70,214 $75,616 $34,321 $244,008 $34,321 $244,008 $3,378,809,900 19 Minimum 20 Maximum 21 Variance 22 Standard Deviation 23 Mean 24 Median 25 Range 26 1st Quartile 27 3rd Quartile 28 88th Percentile 29 Inner Quartile Range 30 31 What is the correlation between the amount spent on advertising and the sales of a product? 32 33 Correlation 34 35 This number indicates a 36 $58,128 $99,904 $84,263 $209,687 $74,592 $90,913 O relationship between the two variables

The following graph shows the firm-specific demand, Marginal Revenue, and Marginal Cost for Sarah's Sandwich Shed, which operates in a Monopolistically Competitive market. Price $18 $16 MC $14 $12 $10 $8 $6 Demand $4 $2 MR 50 100 150 200 250 300 350 400 450 500 Quantity of Sandwiches per Day MacBook Air

Solve all this question compulsory.....

6. Elasticity and total revenue I The following graph shows the daily demand curve for bippitybops in Vancouver. On the following graph, use the green rectangle (triangle symbols) to shade the area representing total revenue at various prices along the demand curve. Notice that when you click on the rectangle, the area is displayed. Note: You will not be scored on any changes made to this graph. PRICE (Dollars per bippitybop) 240 220 200 180 160 140 120 100 80 60 40 20 0 0 6 12 ** + 48 B 18 24 30 36 QUANTITY (Bippitybops per day) Demand 54 80 72 Total Revenue ?

The following graph illustrates the weekly demand curve for motorized scooters in Madison. Use the green rectangle (triangle symbols) to compute total revenue at various prices along the demand curve. Note: You will not be graded on any changes made to this graph. PRICE (Dollars per scooter) 325 300 275 250 225 200 175 150 125 100 75 50 25 0 0 10 A + 20 30 X B Demand 40 50 60 70 80 QUANTITY (Scooters) 90 100 110 120 130 Total Revenue ?

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LEAST COST METHOD DESTINATION SOURCES SUPPLY 1 3 1 7 4 300 2 6 400 8 3 2 500 DEMAND 250 350 400 200 5. 3.

Question Calculate marginal revenue for Q = 5 Quantity Total Revenue Marginal Revenue Total Cost Marginal Cost (Q) 1 2 3 4 5 6 7 8 (TR) 1,200 2, 200 3,000 3,600 4, 100 4, 200 4, 200 4,000 (MR) ? ? ? ? ? ? ? ? (TC) 500 775 1,000 1,250 1,650 2,500 4,000 6,400 (MC) 500 275 225 250 400 850 1,500 2,400

Sampson Ltd produces two products that can be produced on either of two machines. Each month, only 5o0 hours of time are available on each machine. The time required to produce each item by hour and machine is: Machine Machine Product 1 Product 2 3 4 Month Month 1 Month 2 Month 1 Demand Demand Price Price Product 1 100 160 $45 $65 $10 Product 2 120 110 $35 The demand and price point for each product that customers are willing to pay are above. The company goal is to maximize revenue from sales from the next two months. Based on the provided information, how many constraints does this problem have excluding the non-negativity constraints?

Bags/ variable average Participants fixed cost cost total cost variable cost cost marginal total revenue marginal total wt price $20 revenue profit 0 1700 0 1700 0 0 -1700 100 1700 500 2200 5 200 1700 1200 2900 6 57 2000 20 -200 4000 20 1100 300 1700 2700 4400 9 15 6000 20 1600 400 1700 5200 6900 13 25 8000 20 1100 500 1700 9000 10700 18 38 10000 20 -700 600 1700 15000 16700 25 60 12000 20 -4700 700 1700 23800 25500 34 88 14000 20 -11500 800 1700 36800 38500 46 130 16000 20 -22500 900 1700 55800 57500 62 190 18000 20 -39500 1000 1700 83000 84700 83 272 20000 20 -64700

Use the table to compute the marginal revenue and marginal cost

Firm A profit max Firm cannot sell any cannot sell any cannot sell any cannot sell any profit max can sell, but would lose money can sell, but would lose money Quantity 4 5 6 7 8 9 10 Quantity 4 5 price 10 $50,000 $200,000 $45,000 $225,000 $40,000 $35,000 $240,000 $245,000 $30,000 $240,000 $25,000 $225,000 $20,000 $200,000 $0 price $50,000 $45,000 6 $40,000 7 $35,000 8 $30,000 9 $25,000 $20,000 total revenue How much profit can firm B make, at maximum? total revenue $0 50 50 50 $240,000 $225,000 $200,000 marginal revenue total cost marginal total cost profit $160,000 $25,000 $175,000 $15,000 $190,000 $5,000 $205,000 ($5,000) $220,000 $15,000 $20,000 ($15,000) $235,000 $15,000 ($10,000) ($25,000) $250,000 $15,000 ($50,000) marginal revenue total cost $160,000 $0 $175,000 $0 $190,000 50 $205,000 $240,000 $220,000 ($15,000) $235,000 ($25,000) $250,000 $40,000 $50,000 $15,000 $15,000 $50,000 $15,000 $40,000 cost marginal total profit ($160,000) $15,000 ($175,000) $15,000 ($190,000) $15,000…

The following graph shows the daily demand curve for bippitybops in Denver. Use the green rectangle (triangle symbols) to compute total revenue at various prices along the demand curve. Note: You will not be graded on any changes made to this graph. PRICE (Dollars per bippitybop) 240 220 200 180 160 140 120 100 80 8 60 40 20 0 mớ H + 0 9 18 27 36 45 54 63 72 81 QUANTITY (Bippitybops per day) * Demand 90 B 99 108 Total Revenue (?)

PRICE (Dollars per scooter) 195 180 165 150 135 120 105 90 75 60 45 30 15 0 0 + 4 8 12 A B Demand 16 20 24 28 32 QUANTITY (Scooters) 36 40 44 48 52 Total Revenue

How do we calculate the total amount of pagecant costs, price profit, profit make up and selling costs

Quantity of Utensils demanded Revenue Price of Total Marginal Utensil Revenue $50 100 $45 200 $40 300 $35 400 |$30 500 $25 600 $20 700 $15 800 $10 900

26 please make sure your ans is corrcet!

Total Total Revenue Cost Quantity (TR) (TC) Profit (MR) (MC) 0 0 8 1 8 10 2 16 11 3 24 13 4 32 16 5 40 20 6 48 27 7 56 36 8 64 47 9 72 65 10 80 90 Marginal Marginal Revenue Cost Fill in the table to determine the profit maximizing level of output, price, and profit. The optimal quantity is A/ A (number) units, the optimal price is (number) dollars, which maximizes (number) dollars. This table A profits at displays profit maximization under the (perfect competition / monopolistic competition / oligopoly / monopoly) market structure.

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Q36

Price L M N 0 K MC ATC MR F G Output The profit-maximizing firm will be earning total revenue of OFIN OFJM OFKL OGHM

Assuming the blankets in this market are considered identical by consumers, how much profit will a perfect competitor earn?  Enter your answer as a whole number without a dollar sign.