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- Economics Apply the cost-volume- utility model for the graphical and mathematical definition of the equilibrium point. A company dedicated to the manufacture of its only product, a waterproof bluetooth speaker, presents the following information: Annual fixed costs: $1,500,000 Variable costs per unit: Housing: $20.- Buttons: $5.- Card: $10.- The sale price is calculated based on a desired marginal contribution of 60%. Calculate the equilibrium point in units and weights of the company, Draw up the corresponding graph, Prepare the status of results as a check. BEconomics Apply the cost-volume- utility model for the graphical and mathematical definition of the equilibrium point. A company dedicated to the manufacture of its only product, a waterproof bluetooth speaker, presents the following information: Annual fixed costs: $1,500,000 Variable costs per unit: Housing: $20.- Buttons: $5.- Card: $10.- The sale price is calculated based on a desired marginal contribution of 60%. Calculate the equilibrium point in units and weights of the company, Draw up the corresponding graph, Prepare the status of results as a check.You are the manager of a firm that specializes in small single-board widgets. Your goal is to determine the number of units (Z) that must be produced and sold by your firm each month in order to maximize profits. The total benefits (revenues) and costs to your firm of producing various quantities are given in the first three columns of the following table. Based on this scenario, complete the table and answer the accompanying questions: Control Variable Z Total Benefits B(Z) Total Cost C(Z)0 0 01 200 102 380 303 540 604 680 1005 800 1506 900 2107 980 2808…
- PLEASE ANSWER D & E You are the manager of a firm that specializes in small single-board widgets. Your goal is to determine the number of units (Z) that must be produced and sold by your firm each month in order to maximize profits. The total benefits (revenues) and costs to your firm of producing various quantities are given in the first three columns of the following table. Based on this scenario, complete the table and answer the accompanying questions: Control Variable Z Total Benefits B(Z) Total Cost C(Z)0 0 01 200 102 380 303 540 604 680 1005 800 1506 900 2107 980 2808…In your city , each police officer has a budgetary cost of $40000 per year. The property loss for each burglary is $4000. The first offecer hired will reduce crime by 40 burglaries and each additional officer will reduce crime by half as much as the previous one. How many officers should the city hire ? Illistrate with a graph with a marginal benifit curve and a marginal cost curve Can someone answer this correctly with an MC and MB graph? Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.You are a professor of economics at a university. You've been offered the position of serving as department head, which comes with an annual salary that is $6,500 higher than your current salary. However, the position will require you to work 200 additional hours per year. Suppose the next best use of your time is spending it with your family, which has value of $20 per hour. What is the difference in the net benefit from becoming the departmenthead? The change in net benefit is (Enter your response as an integer.) To optimize, you ▼ should or should not become a department head.
- Two months ago, on July 1, 2019, the State of Illinois raised gasoline taxes by $.19 (19 cents) per gallon of gas suppose the new tax is imposed on Illinois gasoline stations. Draw a graph, showing the new cost curves reflecting the additional 19 cents per gallon tax in place. Be sure to indicate which curves depict the pre-tax scenario and which depict the post-tax scenario (for example, by drawing them pre-tax and post-tax curves in different color and using clear labels) (Both a graph and a narrative are needed for this question)Discuss the optimal method for procuring a modest number of standardized inputs that are sold by many firms in the marketplace. What are the primary advantages and disadvantages of using this method to acquire inputs? Give an example not used in the textbook that uses this method of procurement.Q.No.3. (a) What is the input use level for total value product maximization for the following function? y = x1 + 0.1x12 - 0.05x13 + x2 + 0.1x22 - 0.05x23 Q.No.3. (b) Briefly make a comparison between output maximization criteria and profit maximization criteria with respect to necessary and sufficient conditions?
- Economics Suppose that production for good X is characterized by the following production function, Q = 4K0.5L0.5, where K is the fixed input in the short run. If the per-unit rental rate of capital, r, is $12 and the per-unit wage, w, is $20, then the average total cost of using 25 units of capital and 49 units of labor is Multiple Choice $6.25. $9.14.Correct $10.07. incalculable since there is insufficient information to determine the average total costs.The following formula is used in economics to find a company's net income N, where P is the sales price, V is the variable cost per unit, S is the sales volume, and F are fixed costs. N=S*(P-V)-F Rearrange the formula to highlight the sales volume. SAt the profit maximizing level of input use, Which of the following are true? (i) MVP=0 (ii) MVP=MIC (iii) MPP=MVP (iv) MVP=MVIC