Q: Jim’s diner is just about to open in Memphis, Tennessee. However, Jim is trying to decide whether he…
A: Given, Sunk cost = $1800
Q: company manufactures two ballpoint pens, silver and gold. The silver requires 3 min in a 19) grinder…
A: Let x,y denote, respectively, the number of silver and gold pens the company manufactures in a week.…
Q: A new production technology for making vitamins is invented by a college professor who decides not…
A: Average total cost (ATC), is the total cost per output.
Q: What are the short-run and long-run costs of the production of Adidas?
A: Short run Cost is the cost price of manufacturing processes that have short-term inferences, i.e.,…
Q: The marginal cost of supplying another unit of output of an electronic product on the internet is…
A: Marginal cost is the cost incurred on one additional unit produced as output
Q: The difference between economic profit and accounting profit is that economic profit is calculated…
A: Out-of-pocket costs are expenditures that appear to have been incurred. Employee compensation and…
Q: Mark is opening an ice cream stand. He believes the fixed cost per week of running the stand is…
A: All the information is provided in the following table and formula used are as follows : Fixed Cost…
Q: Use the following data for answering Questions 3-6: The Haverford Company is considering three types…
A: The table for the costs of Plant C is given below:
Q: Amazing is evaluating three locations for a second headquarters. Costs for construction at location…
A: The break even point is a total cash inflow point, that would be equal and use the total cash…
Q: Assume you have decided to buy an advertisement in the local newspaper to publicize your new pet…
A: It is given that, the total cost of ad is $1, 000, the total fixed cost for each dog is $40, and the…
Q: Economics Valles Galactic Industries bought a collection of additive manufacturing machines that…
A: Free Maintenance cost for 200 hours cost after 200 hrs = $200/hour
Q: Suppose you run a small business in your building and you act also as a manager of your business. If…
A: In order to answer this question we need to understand the concept of explicit cost and implicit…
Q: A firm that sells e-books - books in digital form downloadable from the Internet - sells all…
A: Given: Maximum annual profit of $45,000 when it sells 20,000 copies Profit per copy = 45000/20000 =…
Q: What makes the Lincoln Electric system so successful in the United States?
A: In the United States, Lincoln Electric has had a lot of success.Their success is aided by the…
Q: Roger Clark obtains long-stem roses from Fred's Flowers each Friday for sale to the public. Fred…
A: Demand refers to the goods or services that people are willing to buy with their given purchasing…
Q: The table below shows the monthly cost of producing vintage model cars for collectors for quantities…
A: Here, the given table shows the value of total fixed cost, totla variable cost, and total cost are…
Q: When output increase then difference between TVC and TC ____
A: The firms, and businesses tend to operate in the market with the motive of earning revenue, and…
Q: Suppose you can either make computer chips or smartphone chips. If you produce computer chips, you…
A: Explicit cost is the cost that appears in the companies general ledger that directly affects the…
Q: Amazon company Describe anything that differentiates a product of your company, anything that…
A: Amazon is an online platform where people can shop for everything from furniture to mobile phones…
Q: PakPerfect Inc. estimates equation of its total costs of production as TC = 500 + 10Q + 5Q2 and…
A: “Since you have posted a question with multiple sub-parts, we will solve first three sub-parts for…
Q: Refer to the diagram above, in this instance, at the range of output represented a point c,…
A: TC and TR approach is one of the way to determine to profit maximized condition for the firm. In the…
Q: Marketers strive to deliver a profitable product for their firm. Marketers must understand…
A: The break-even point refers to the price where there is zero profit i.e., total revenue is equal to…
Q: Klee Motors is a small car leadership. On average, it sells a car for $24 000, which it purchases…
A: It is given that the firm has a few fixed costs such as the rent which is equal to 60,000 per month,…
Q: Can you answer me as soon as possible , urgentttttt!!!!!!!!!!! Bodyguard Ltd. was established in…
A: An ethical dilemma, also known as an ethical paradox or a moral dilemma, is an issue that arises in…
Q: How will the marginal and average cost curves of the typical pure competitor shift or change as a…
A: Pure competition: It is the market where a large number of independent sellers offer identical…
Q: 2- Use the information in the graph to find the values for the following costs at an output level of…
A: Hi! Thanks for the question but as per the guidelines we answer up to three subparts. Kindly repost…
Q: Tim Marlow, the owner of The Clock Works, wanted to know how many clocks he must sell in order to…
A: Fixed costs are the costs that are incurred by the producers that do not change with the increase or…
Q: Based on the following data for Al-Aqsa Company: (5 Marks) - Price = $10 - Average total cost = $6 -…
A: Average total cost is the ratio of the total cost to quantity. The rise in total cost causes the…
Q: Consider the data in the table. The price of gasoline is $3.99 per gallon at the gas station. If…
A: The concept of rationality says that individuals choose the best decision for them with the…
Q: Costs and Profit Maximization Under Competition: End of Chapter Problem a. Use the variable cost…
A: Fixed cost is the cost that remains the same regardless of how much output the firm produces.…
Q: product for their firm. Marketers must understand break-even point calculations and sales targets.…
A: Formula: Profit = (Selling price*units sold) - (fixed cost + (variable cost * units sold)
Q: Eighty percent of all navel oranges grown in the US come from California. In the winter of 1998 a…
A: When there is a change in the price of a good, then the quantity supplied of that good changes. It…
Q: Explain how an increase in oil prices will accelerate transition to a backstop technology.
A: A backstop technology is a new technology that produces a near counterpart for an exhaustible…
Q: Refer Lego case study What are the reasons behind the decline of the LEGO Group? Comment on the…
A: Hi! Thank you for the question, As per the honor code, we are allowed to answer three sub-parts at a…
Q: or many airlines in the short run, a major portion of the cost of production, such as aircraft and…
A: Fixed Cost: The fixed cost refers to the cost that is fixed and does not change irrespective of…
Q: You cannot equate coffee roaster explicit costs with coffee farmers’ explicit benefits, despite…
A: a. Though the coffee roasters increase their explicit cost by sharing prices with farmers, but it is…
Q: Explain manufacturing firms should use demand leading instead of demand trailing capacity strategy.
A: A lead limit technique (lead request procedure) is a proactive methodology that adds or takes away…
Q: Solve the attachment
A: The income received by the producers after paying for all the raw materials used to produce the…
Q: Question 8 Please calculate Inditex production costs in comparison to its competitors who outsourced…
A: According to the question, Asian production is 20% more expensive than European production.…
Q: Katie's Quilts is a small retailer of quilts and other bed linen products. Katie currently purchases…
A: Assume Katie needs to sell K quilts to make vertical integration a profitable decision,money earned…
Q: this a good example of a sunk cost? Why or why not? “As an entrepreneur, advertising your product…
A: Yes, money spent on advertising and marketing is a sunk cost. A sunk costs is a cost that you have…
Q: In the past century, manufacturing facilities in the U.S. moved away from large market areas due to……
A: In the past century, manufacturing facilities in the U.S. moved away from large market areas due to…
Q: Distinguish clearly between Marginal Revenue and Marginal Costs using suitable examples.
A: Marginal revenue is defined as the additional revenue after selling one more unit of output.
Q: Are there opportunities to combine volumes of spending from different busi- nesses, and standardize…
A: There are various market practices to understand the various opportunities available, which are used…
Q: Explain the role of costs in pricing decisions and describe how various combinations of price, fixed…
A: The major costs in pricing decisions can be listed as follows: Fixed cost: Fixed costs are the costs…
Q: What costs and revenues do economists include when calculating profit that accountants don’t…
A: Economic profit is the excess revenue made by the firm after deducting the total cost incurred…
Q: Why is incremental cost pricing the correct pricing method?
A: Incremental cost pricing is a method of pricing in which the price is determined on the basis of…
Explain why automobile manufacturers produce their own engines but purchase mirrors from independent suppliers.
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
- The table below shows the monthly cost of producing vintage model cars for collectors for quantities 0, 100, 200, and 500. Complete the table by filling in the average fixed cost, average variable cost, and average total cost. Vintage Model Car Production Costs Output Total Fixed cost Total Variable Cost Total Cost Average Fixed Cost Average Variable Average Total Cost 0 $2000 $0 2,000 - - - 100 2,000 1,000 3,000 _____ _______ _______ 200 2,000 1,500 3,500 _____ _______ ________ 500 2,000 4,500 6,550 _____ ________ ________Why would a new oil refinery have difficulty competing successfully with large oil refiners such as Chevron, Shell Oil, or ExxonMobil?Habib Bank Limited estimates equation of demand of its product as: Q = 55 – 0.5P - (where P = price and Q = Quantity of output), and its total cost of production as TC = 20 + Q + 0.2Q2 Where TC = total cost and Q = Quantity of output) Write the equations of the firm’s costs, as a function of Q: Average Total Cost ATC? Average Variable Cost AVC? Average Fixed Cost AFC.? Marginal Cost MC? The output level that will maximize total profit and the amount of revenue and profit that Habib Bank would receive at optimal level of production.? The output level that minimizes average total cost.? please answer all questions
- Jims diner is just about to open in memphis, tennessee. however, jim is trying to decide whether he wants to offer coke or pepsi soda products. he determines that, to offer either product, he will have to spend $1500 in sunk costs to purchase and install the appropriate paraphernalia. Ultimately, he chooses to offer coke products and agrees to pay coke 5 cents per ounce of coke sold for the right to use its product. After jim makes the investments specific to his soda choice, coke returns and asks for a fixed (One-time) fee in addition to 5 cents per ounce. What is the most jim should be willing to pay? explainRefer to the figure below to answer the questions. 1.) A corn producer's profit is RM200 and is producing 100 bushels of corn. Then he must have a cost per bushel of __________. 2) A corn producer produces 80 bushels of corn and sells each bushel at RM5. The cost of producing each unit bushel is RM2. This corn producer's total revenue is ________ and profit is ________. 3) A corn producer's total revenue is RM1,000. If she sells each bushel of corn for RM5, she must be selling ________ bushels of corn.A firm is deciding between two different sewing machines. Technology A has fixed costs of $500 and marginal costs of $50 whereas Technology B has fixed costs of $250 and marginal costs of $100. If the price is $20 per unit, what is the break even amount of units for technology A? A firm is deciding between two different sewing machines. Technology A has fixed costs of $500 and marginal costs of $50 whereas Technology B has fixed costs of $250 and marginal costs of $100. If the price is $20 per unit, what is the break even amount of units for technology A? a. 70 b. 60 c. 50 d. None - They would have to shut down
- Question 1--Calculate the cost of eliminating our wholesalers• Revenues are $230 million• We will have to pay 5% of revenues for transportation.• We will have to pay 10% of sales to cover inventory costs.• A warehouse costs $2.5 million a year to run and maintain. We need 12 warehouses tostock our inventory.What is the cost of vertical integration in revenue dollars?Question Google is considering an advertising campaign that is expected to increase the sales of its Pixel phone by 20%. Suppose that currently Google sells 1,000,000 units at $500 per unit and the variable cost per unit is $300. If the cost of the advertising campaign is $50 million, will Google find it acceptable? Question An attractive feature of new cell phones that was introduce d in recent years is that you can switch carriers easily with the same device. How does this feature affect demand for wireless phone services? What are the likely effects on the demand that a particular US carrier is facing? Are there any elasticities that were likely to be affected?Jim’s diner is just about to open in Memphis, Tennessee. However, Jim is trying to decide whether he wants to offer Coke or Pepsi soda products. He determines that, to offer either product, he will have to spend $1,800 in sunk costs to purchase and install the appropriate paraphernalia, e.g., a large Coca-Cola or Pepsi sign out front. Ultimately, he chooses to offer Coke products and agrees to pay Coke 5 cents per ounce of Coke sold for the right to use its product. After Jim makes the investments specific to his soda choice, Coke returns and asks for a fixed (one-time) fee in addition to the 5 cents per ounce. What is the most Jim should be willing to pay?
- Assume you have decided to buy an advertisement in the local newspaper to publicize your new pet grooming service. The cost of the ad is $1,000. You have decided to charge $40 for a dog grooming, and your variable costs are $20 for each dog. How many dogs do you have to groom to break even on the cost of the ad? What is your break-even point if you charge $60 per dog?Airbus owns 2 plants and has contracted to produce 10 airplanes next year. The cost per airplane at plant 1 is given by 17 + (q1/10) and the cost per airplane at plant 2 is 7 + q2. No matter how Airbus allocates the production of its planes across the 2 plants, it costs at least as much per plane to produce planes at plant 1 as at plant 2. Therefore, Airbus should shut down plant 1. True, false, or uncertain? Explain and show your work.Do you think that the taxicab industry in large cities would be subject to significant economies of scale? Why or why not?