A cafeteria sells sandwich. The fixed costs of running the eafeteria are $1,700 a month and the variable costs of producing a sndwich are $5 in raw materiale and $20 of direct labur. Additionally sells the sandwich at a sales price of S30, Determine the minimum units of goods (sandwich) that it needs to sll in order to reach break-even each month
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- What is die difference between accounting and economic profit?What is the relationship between marginal product and marginal cost? (Hint: Look at the curves.) Why do you suppose that is? Is this relationship the same in the long run as in the short run?Continuing from Exercise 7.1, the films factory sits on land owned by the firm that it could rent for 30,000 per year. What was the films economic profit last year?
- Please no written by hand and no emage 1) Complete the following table: Total Cost 50 Output 0 345 WNIO 1 2 3 6 BORONG Output 0 60 123456 75 100 150 225 400 2) Apu leases 2 squishy machines to produce 40 squishies in the short run. Apu's short-run cost function is: C(q, K) = 0.85-9² +0.5K, where q is the number of squishies produced and K is the number of squishy K² Total Cost Variable Cost machines used. Apu's long-run cost function is: CLR(q) = 1.139 what happens to Apu's short-run average total cost of producing 40 squishies? Does Apu's long-run cost function exhibit increasing, constant, or decreasing returns to scale? 3) Complete the following table: 90 180 Fixed Cost Variable Fixed Cost Cost 60 10 Marginal Cost 80 Marginal Cost 20 213. 50 If Apu decides to lease 7 squishy machines,Please no written by hand and no emage An automobile dealer can sell 8 sedans per day at a price of $20,000 and 4 SUVs (sport utility vehicles) per day at a price of $25,000. She estimates that for each $400 decrease in price of the sedans she can sell two more per day, and for each $600 decrease in price for the SUVs she can sell one more. If each sedan costs her $16,800 and each SUV costs her $19,000, and fixed costs are $1,100 per day, what price should she charge for the sedans and the SUVs to maximize profit? [Hint: Let x be the number of $400 price decreases for sedans and y be the number of $600 price decreases for SUVs, and use the34- 34 - : If firm X produces 20 units of product with a total cost of 100, what is its average cost? a) 2nd B) 120 NS) 80 D) 5 TO) one
- 7 A firm has this cost function: C = 4000 - 7Q + 8Q2. The firm is currently producing 5 units of its product. Calculate these a) Total cost b) Average fixed cost c) Average variable cost d) Marginal cost (You must clearly label and type each answer in eCourses, and show your calculations to receive any credit for your answers.)Bakery produces and sells grain bread. Monthly fixed costs are known, costs of raw materials and direct labour needed to bake one bread are given below as well. Calculate costs of raw material and direct labour needed to produce more pieces of bread. Then calcuate VC, TC, AC and MC. Quantity Fixed costs (EUR) Raw material costs (EUR) Direct labour costs (EUR) Variable costs (EUR) Total costs (EUR) Average costs (EUR) Marginal costs (EUR) 1 500.00 0.20 1.00 1.20 501.20 501.20 1.20 5 500.00 1.00 5.00 6.00 506.00 101.20 1.20 10 500.00 2.00 10.00 12.00 512.00 51.20 1.20 15 500.00 3.00 15.00 18.00 518.00 34.53 1.20 35 500.00 7.00 35.00 42.00 542.00 15.49 1.20 50 500.00 10.00 50.00 60.00 560.00 11.20 1.20 100 500.00 20.00 100.00 120.00 620.00 6.20 1.20 1,000 500.00 200.00 1,000.00 1,200.00 1,700.00 1.70 1.20 2,500 500.00 500.00 2,500.00 3,000.00 3,500.00 1.40 1.20 10,000 500.00 2,000.00 10,000.00 12,000.00 12,500.00 1.25 1.201. Direct laborrate: $15.00perhour Production material: $375 per 100 items Factory overhead: 125% of direct labor Packing costs: 75%ofdirectlabor Desiredprofit: 20%oftotalmanufacturing cost use the above information to answer how many units must be sold to achieve a profit of $25,000? [Note that the units sold must account for total production costs (direct and overhead) plus desired profit. 2. A small textile plant was constructed in 2004. The major equipment, costs, and factors are shown below. Estimate the cost to build a new plant in 2014 if the index for this type of equipment has increased at an average rate of 12% per year for the past 10 years. Show work and Select the closest answer. a) $4,618,000 b) $10,623,000 c) $14,342,000 d) $ 14,891,000
- A vendor cost Ρhр 75.00 to buy the things he needs make home made рulvoron. A рrivate рark allows him to sell his рroduct inside the amusement рark. However, he will be charged Ρhр 1.00 for each рulvoron sold. Calculate the break – even рoint if the рrice he charge for a рulvoron is Ρhр 1.50. Solve the рroblem by formula and by graрh.The Calhoun Textile Mill is in the process of deciding on a production schedule. It wishesto know how to weave the various fabrics it will produce during the coming quarter. Thesales department has confirmed orders for each of the 15 fabrics produced by Calhoun.These demands are given in the following table. Also given in this table is the variablecost for each fabric. The mill operates continuously during the quarter: 13 weeks, 7 daysa week, and 24 hours a day.There are two types of looms: dobbie and regular. Dobbie looms can be used to makeall fabrics and are the only looms that can weave certain fabrics, such as plaids. The rateof production for each fabric on each type of loom is also given in the table. Note that ifthe production rate is zero, the fabric cannot be woven on that type of loom. Also, if afabric can be woven on each type of loom, then the production rates are equal. Calhounhas 90 regular looms and 15 dobbie looms. For this problem, assume the time requirementto change…Problem 6Cannes Croissants (not a real company) wishes to determine the optimum production quantity for its topselling product, almond croissants. The annual demandfor almond croissants is 12,000 units. The setup costs fora production run of the croissants is US$15. The holdingcost per unit per year is US$0.50. Production is mostefficient when 80 croissants are produced per day. Thecompany operates 300 days during a year.a What is the economic production quantity (EPQ)?b How many production runs will there by per year?c What is the maximum inventory level?d What is the total annual cost (in US dollars)?e What is the length of a production run in days?