A manager's operation currently has an average sale per guest of $9.00. For the upcoming accounting period, the manager predicts 8,000 guests will be served at a check average 5% higher than the current average sale per guest. What will be this manager's revenue forecast for the upcoming period? 1. $72,000, 2. $75,600, 3. $79,200, 4. $82,800.

A manager's operation currently has an average sale per guest of $9.00. For the upcoming accounting period, the manager predicts 8,000 guests will be served at a check average 5% higher than the current average sale per guest. What will be this manager's revenue forecast for the upcoming period? 1. $72,000, 2. $75,600, 3. $79,200, 4. $82,800.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

See similar textbooks

Similar questions

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…
Please ASAP. Thank you. QUESTION Economics is the discipline that deals with the consequences of resource scarcity.TrueFalse Owners of for-profit hospitals expect a return on their investments. These expenses and profits are included in various fees, these fees are called? A. Risk shifting B. Premiums C. Profits D. Average losses
Hau Lee Furniture, Inc., spends 60% of its sales dollars in the supply chain and has a current gross profit of $10,000. Hau wishes to increase gross profit by $5,000 (50%). He would like to compare two strategies: reducing material costs vs. increasing sales. The current material costs and production costs are 60% and 20%, respectively, of sales dollars, with fixed cost at a constant $10,000. Analysis indicates that an improvement in the supply chain that would reduce material costs by 8.3% ($5,000/$60,000) would produce a 50% net profit gain for Hau, whereas a much larger 25% increase in sales ($25,000/$100,000) would be required to produce the same result. Now Hau finds its current profit of $10,000 inadequate. The bank is insisting on an improved profit picture prior to approval of a loan for some new equipment. Hau would like to improve the profit line to $25,000 so he can obtain the bank’s approval for the loanWhat percentage improvement is needed in the supply chain strategy for…
Tom Glass forecasts electrical demand for the FlatlandsPublic Power District (FPPD). The FPPD wants to take itsComstock power plant out of service for maintenance whendemand is expected to be low. After shutdown, performingmaintenance and getting the plant back on line takes two weeks. The utility has enough other generating capacity tosatisfy 1,550 megawatts (MW) of demand while Comstockis out of service. Table 8.5 shows weekly peak demands(in MW) for the past several autumns. When next in year 6should the Comstock plant be scheduled for maintenance?
Appleway Industries produces apple juice and sells it in a competitive market. The firm’s manager must determine how much juice to produce before he knows what the market (competitive) price will be. Economists estimate that there is a 30 percent chance the market price will be $2 per gallon and a 70 percent chance it will be $1 when the juice hits the market. If the firm’s cost function is C = 200 + 0.0005Q2, how much juice should be produced to maximize expected profits? What are the expected profits of Appleway Industries?
Can you answer me as soon as possible , urgentttttt!!!!!!!!!!! Bodyguard Ltd. was established in Hong Kong in 2020. It produces surgical masks sold to retailers, like personal cares stores, in Hong Kong. With its unique Chinese pattern printed on the masks, it also sells good in North America and Canada since 2021. Bodyguard adopts standardized marketing strategy worldwide. Recently, Bodyguard would enter into a contract with a vendor in Vietnam to expand its production capacity. However, Bodyguard’s managers have heard reports that the vendor operates factories with sweatshop conditions, which is not acceptable in Hong Kong. Employment in sweatshops provides a source of income for women in Vietnam, who can earn more wages than in many other jobs, which bring them food, nutrition and education for their children. Sweatshop is a preferred working place of Vietnamese. (c) Explain the TWO approaches in handling ethical dilemma – relativism and normativism. What would be the ethical…
A Farmer‘s production function Y =100 × 1. Among farmer's ownership, fixed land rental & sharecropping, the farmer will put the highest level of effort into his land under ______, the farmer will make the highest amount of investment under _____, the farmer will more likely to borrow from the bank under ______. 2. Assume the rent per year under fixed land rental is 500, how much profit could the farmer make by the end of the year? ______ 3. Assume the rent per year under sharecropping is 10% total output, how much profit could the farmer make by the end of the year? ________ 4. What are some of the important factors behind farmers' investment incentives? _______
(Minimizing Loss in the Short Run) Explain thedifferent options a firm has for minimizing losses in theshort run.
9 The average cost of producing 10 units is Rs 30, while the average cost of producing 20 units is Rs 20. Find the average cost of producing 30 units. {Hint : Find Fixed cost. TC of 10 units = Rs 300, TC of 20 units = Rs 400, VC = Rs 10/ unit Fixed cost = TC = FC + VC (10* 10) = 300 = FC + 100 = FC = 200. Thus, AC of producing 30 units will be Rs 16.67}
You are the manager of large farm located in Le Mars with 1,200 acres. Given the current recession, you have decided to diversify by producing both a corn & soybean. Based on corn price of $5.45 per bushel and soybean price of $14 per bushel, you expect to earn total revenue of $544,375 for both products. Min produce of 20,705 bushels of soybeans Using the Isorevenue , how many bushels of corn you will produce? From your answer to a) illustrate graphically the Isorevenue curve. Clearly identify horizontal and vertical axis on your graph
1. A firm is said to be earning normal profit whenever:A. Accounting profit is zero.B. Economic profit is positive.C. Accounting profit is positive.D. Total revenue equals explicit and implicit costs.2. If a 10% increase in inputs results in a 20% increase in output, then the firm is said to exhibit:A. Diseconomies of scaleB. Diminishing marginal returns to scaleC. Constant returns to scaleD. Economies of scale3. Economists have traditionally attempted to avoid the trap of:A. Thinking in terms of total utility.B. Computing marginal utilityC. Making interpersonal utility comparisons.D. None of the above.4. According to the water-diamond paradoxA. Water has a lower MU than Diamond.B. Water has a higher TU than Diamond.C. Prices reflect MU and not TUD. All of the above.
1) A manufacturer of kitche. Appliances is preparing to set the price on a new blender. Demand is thought to depend on the proce qnd is represented by the following model. D= 2,800-4p The accounting department estimates that the total cost can be represented by the following model. C=4,700+5D Develop a mathematical model for the total profit of TP in terms of the price, P. A mathematical mod for the total profit in terms of the price P is TP= ______