Fverry mile le Venue A = Venue B: Miles 2 The table shows the cost of hiring two different venues. 200- Hours 3. 180 Venue A cost (£) 40 120 200 160 Venue B cost (£) 95 125 155 140- 120 a Copy the axes and draw the graphs for the two different venues. b Which line shows direct proportion, Venue A or Venue B? Venu A c Which is cheaper for 4 hours' hire? Venue B d For what number of hours' hire do both venues cost the same? 3 hours De Which venue charges a booking fee? How much is it? 100 80 60- 30mins 40 20- Time (hours) Cost (E)

Fverry mile le Venue A = Venue B: Miles 2 The table shows the cost of hiring two different venues. 200- Hours 3. 180 Venue A cost (£) 40 120 200 160 Venue B cost (£) 95 125 155 140- 120 a Copy the axes and draw the graphs for the two different venues. b Which line shows direct proportion, Venue A or Venue B? Venu A c Which is cheaper for 4 hours' hire? Venue B d For what number of hours' hire do both venues cost the same? 3 hours De Which venue charges a booking fee? How much is it? 100 80 60- 30mins 40 20- Time (hours) Cost (E)

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Why Marginal Cost (MC) is 1?? I did my calcutation and is 2. I replace on fucntion Q = L + (5)2 = L + 25, so L = Q - 25 and put on TC = 2(Q - 25) + 20(5) So TC = 2Q - 50 + 100 = 2Q + 50, then MC = dTC / dQ = 2 You may be replaced TC = wL + rK, but this function no contains Q variable Please confirm that. Thanks
A farmer’s fields are right next to the train tracks, where sparks from the trains set the field on fire. The railroad profit from running zero, one, two or three trains is shown below. The columns indicate the number of trains running. Total railroad profits are the total profits to the railroad from running the specified number of trains. Total lost farmer profits are total profits the farmer loses from a specified number of trains running. Trains 0 1 2 3 Total Railroad Profit. $200 $300 $350 $410Total Lost Profit for Farmer $0 $100 $125 $300 1) What is social welfare at the socially optimal number of trains? a) 200 b) 225 c) 210 d) 350…
A farmer’s fields are right next to the train tracks, where sparks from the trains set the field on fire. The railroad profit from running zero, one, two or three trains is shown below. The columns indicate the number of trains running. Total railroad profits are the total profits to the railroad from running the specified number of trains. Total lost farmer profits are total profits the farmer loses from a specified number of trains running. Trains 0 1 2 3 Total Railroad Profit. $200 $300 $350 $410Total Lost Profit for Farmer $0 $100 $125 $300 1) What is social welfare at the socially optimal number of trains? a) 200 b) 225 c) 210…
A farmer’s fields are right next to the train tracks, where sparks from the trains set the field on fire. The railroad profit from running zero, one, two or three trains is shown below. The columns indicate the number of trains running. Total railroad profits are the total profits to the railroad from running the specified number of trains. Total lost farmer profits are total profits the farmer loses from a specified number of trains running. Trains 0 1 2 3 Total Railroad Profit. $200 $300 $350 $410Total Lost Profit for Farmer $0 $100 $125 $300 1) If a court grants the railroad the property right throw sparks, and transaction costs are $1400 (split evenly by the…
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…
Suppose the Carrow Road stadium has a capacity of 50,000 seats and is used for sevengames a year. Three are Premiership games, with a demand for tickets (expressed in thousands)given by D = 150 − 3p per game, where p is the ticket price. Three of the other games are EastAnglia friendly matches with demand D = 90 − 3p per game. Finally, one is a Champion’s Leaguegame with a demand D = 240 − 3p. The costs of operating the stadium are independent of thenumber of tickets sold.(a) Determine the optimal ticket price for each game, assuming the objective is profit maximization.(b) Given that the stadium is frequently full, the idea of expanding the stadium has arisen. Apreliminary study suggests that the cost of capacity expansion would be £100 per seat per year.Would you recommend that the football club goes ahead with the project of capacity expansion?
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Nick is planning on starting a mobile pizza oven. He is expecting his customers to spend $20 per pizza. It is estimated that the costs associated with the ingredients will be $5 per pizza. In addition, his fixed costs for renting the mobile oven is $150 per day. 1) How many pizzas does Nick need to sell to break-even per day? 2) If Nick wants to make a profit of $300 and sell 25 pizzas per day, calculate the price he should charge per pizza. 3) If Nick increases the price per pizza to the amount found in part (b) then explain the effect on the break-even number of pizzas sold. Assume the fixed costs and the variable costs remain unchanged. Do not re-calculate the break-even quantity, x, for this question however you may quote the break-even formula and contribution margin to aid your explanation.
Karen goes to the casino with 1000$ and plays the following strategy: In her first game, she putsin 1$. If she wins, she finishes playing and takes her profit home. If she looses a game, she willplay another game and put in twice as much money as she did in the previous game. If she wins,she will finish playing and take her profits home. She will keep going with that strategy, untilshe either wins a game or runs out of money.(a) Create a table for n = 1, 2, ..., 10 which lists: (a) The amount of money she puts in in game n;(b) the sum of the amount of money she has put in in all games up to this game n; and (c)her overall profit if the game n is the first game she wins.(b) What is the likelihood of her loosing 8 games in a row?(c) How many games can she loose in a row before she cannot afford to continue with herstrategy of doubling her bet?(d) Given the low likelihood of loosing, is this a smart strategy for Karen to pursue?
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1) a) Solve the following inequalities:(i) 5(11 − ?) < ? + 49 (ii) 7? − 3 <10m + 23< 8 − 5m (iii) ?2 ≥ 15 − 2? b) The cost structure for iPhones are as follows, fixed cost of $25 and variable cost perunit of $2. The associated demand function isp = 20 − q .(i) Obtain an expression for the profit, π(q). (ii) Find the range of output which gives a profit of at least $31. c) Use Microsoft Word or Excel to solve the system of linear inequalities:r + 5t ≤ 57t – 2r ≤ 4 r ≥ 0(NB: clearly identify the solution set by placing a BIG enough ‘S’ to coverthat entire region).