a) Draw the demand process cycle and label it fully. b) A door company has the following materials in inventory. Inspect the table below and answer the following questions Material Average (in Kilograms) Price Aluminum. 3884 $3.0 Steel 5850 $1.4 Iron 200 $1 Work in Progress Average Price Fence 78 230 Final Products Average Price Door 300 300 Window 550 240 i. Calculate the number of turns. ii. Calculate the cost per day.
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- Suppose Alphonsos town raises the price of bus tickets from 0.50 to 1 and file price of burgers rises from 2 to 4. Why is file opportunity cost of bus tickets unchanged? Suppose Alphonsns weekly spending money increases from 10 to 20. How is his budget constraint affected from all three changes? Explain.Table 13-7The Flying Elvis Copter Rides Quantity TotalCost FixedCost VariableCost MarginalCost AverageFixedCost AverageVariableCost AverageTotalCost 0 $50 $50 $0 -- -- -- -- 1 $150 A B C D E F 2 G H I $120 J K L 3 M N O P Q $120 R Refer to Table 13-7. What is the value of M? a. $50 b. $140 c. $360 d. $410Table 24-5The table below pertains to Wrexington, an economy in which the typical consumer’s basket consists of 20 pounds of meat and 10 toys. Year Price ofMeat Price of aToy 2004 $3 per pound $2 2005 $1 per pound $7 2006 $4 per pound $5 Refer to Table 24-5. The cost of the basket Group of answer choices increased from 2004 to 2005 and increased from 2005 to 2006. increased from 2004 to 2005 and decreased from 2005 to 2006. decreased from 2004 to 2005 and increased from 2005 to 2006. decreased from 2004 to 2005 and decreased from 2005 to 2006.
- Table 13-7The Flying Elvis Copter Rides Quantity TotalCost FixedCost VariableCost MarginalCost AverageFixedCost AverageVariableCost AverageTotalCost 0 $50 $50 $0 -- -- -- -- 1 $150 A B C D E F 2 G H I $120 J K L 3 M N O P Q $120 R Refer to Table 13-7. Fill in ALL THE VALUES FROM A to R in the table.Table: Spring Water Quantity(Cases) Price TotalRevenue MarginalRevenue MarginalCost AverageTotalCost Total Cost 0 $16 $0 $25 $15 $10 1 $15 $15 35.00 $35 $13 $6 2 $14 $28 20.50 $41 $11 $4 3 $13 $39 15.00 $45 $9 $2 4 $12 $48 11.75 $47 $7 $3 5 $11 $55 10.00 $50 $5 $3 6 $10 $60 8.83 $53 $3 $5 7 $9 $63 8.29 $58 $1 $9 8 $8 $64 8.38 $67 Reference: Ref 15-12 Table: Spring Water Table: Spring Water. The table shows the demand and cost data for a firm in a monopolistically competitive industry producing drinking water from underground springs. The profit-maximizing output is _____ cases. Select one: a. 7 b. 5 c. 6 d. 8A firm produces two different kinds, A and B, of a commodity. The daily cost of producingx units of A and y units of B isC(x, y) = 2x2 − 4xy + 4y2 − 40x − 20y + 514Suppose that the firm sells all its output at a price per unit of $24 for A and $12 for B. Findthe daily production levels x and y that maximize profit. (Be sure to show your first andsecond order conditions.)
- Rаnϲhеrs ϲаn rаisе еithеr ϲаttlе or shеер on thеir lаnd. What would cause ϲаusе thе suррly of shеер to inscrease? Typed answer please. I ll rate.Q4) A. Complete the following table accurately B. Draw the TFC, AFC and AVC in one graph Q TVC TFC TC MC ATC AFC AVC 0 0 100 1 20 2 38 3 51 4 62 5 75 6 90(Minimizing Loss in the Short Run) Explain thedifferent options a firm has for minimizing losses in theshort run.
- Maximize profit 4D + 3WWith constraintsTime 3D + 2W ≤ 150Cost 2D + 4W ≤ 220D, W ≥ 0 We saw the best point was (20, 45) with profit 215. Use this problem and the notes to answer the following (except part 4):1 write true or false and then explain either response to this – the range of optimality on the D variable refers to how much the value 20 in the best point can go down or go up and this point is still the best,2 write true or false and the explain either response to this – the range of feasibility of the time constraint refers to the value 150 and how much if can change and the best point is still (20, 45),3 write true or false and explain either response to this – the shadow price of .125 on the cost constraint means that if the right hand side of the constraint (the 220) is anywhere between 100 and 300 then each 1 unit increase in this RHS (say from 100 to 101) will increase profit by 12.5 cents and any 1 unit decrease in this RHS will decrease profit 12.5 cents,4 write true or…Sonia is planning to start a new designer cloth shop. Her problem is to decide how large her shop should be.The annual returns will depend on both the size of her shop and a number of marketing factors related to thecurrent market conditions and demand for designer wear. After a careful analysis, Sonia came up with thefollowing tableSize of Shop Good Market (R.O.) Fair Market (R.O.) Poor market (R.O.)Small Scale 1024 9765 −500Medium Scale 1500 3000 −2000Large Scale 2000 3000 −4000Very Large Scale 3000 5000 −7000a) What will be her decision based on Pessimist criteria? b) What will be her decision based on Optimistic criteria? c) What will be her decision based Laplace criteria?GivenMonthly rent25,000Monthly Salary/employee10,000Market price of slippers520Total units sold20,000 Solve for the followingTotal RevenueTotal CostProfit/Loss (indicate if its a profit or loss)