I am taking in at my optimal bundle, and suddenly I get free goods of
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- Pascal's current wealth is $140 and he has exponential utility with 0.002. He is considering the purchase of a lottery that mat costs SX There la a 40% chance that the ticket will have a St0 payoff, otherwise it will be worth $0. (a) What would Pancar's utility be if he did not purchase the ticket? thes (b) What woula Pascal's utility be it he purchased the ticket and won? utles to What would sa y be if he purchased the ticket and kost? What is me manum price that Pascal would be willing to pay for the lottery ticket? Piness round your aner to he neart cemt Maximum Price 1Ray Holt seeks an investment for his new business. The investor will bear all the costs(fixed + variable) and wants a rate of return of at least Y%. For the business fixed cost is Fc, selling price of a unit is Sp, and Cost of production of a unit is Cp. How many units, x, should Ray Holt maketo meet the investor’s rate of return requirement? If the requested rate of return is 10%, fixed cost is $10,000, selling price is $5, and cost of production is $3, how many units should be made?You are the Chief Executive Officer for NeverEnding Tyres Inc. You have the responsibility to secure a new distribution center where you own over 1000 hectares of land near the intended distribution center. For you, this could result to ____ a. the usual decision making problems of cost versus benefitb. a wonderful, ethical opportunity to make profitc. an ethical opportunity to move the distribution center to your hometownd. a conflict of interest
- This game has two players: the employee (Homer) and the employer (Mr. Burns). Homer has to decide whether or not to pursue a training opportunity that will cost him $1,000. Undergoing the training will give Homer the opportunity to potentially generate additional revenue through a new business venture. Mr. Burns has to decide whether or not to pay a fixed wage to Homer of $10,000 for the new venture or to share the revenue from the new enterprise with Homer on a 50/50 split. Demand for the new venture is somewhat unpredictable. Cash flows are positively affected by both training and revenue sharing. With no training and a fixed wage, cash flow is projected to be $20,000. If either training or revenue sharing is implemented, cash flows rise to $22,000. If both training and revenue sharing are implemented, the cash flow position is even better at $25,000. Construct a pay-off matrix for this scenario. Is there a dominant strategy for both parties that results in equilibrium?…2. An educational institution has total direct labor and material costs of $1964 perstudent. Its fixed costs are $352,800. Total revenues for the year were $1,800,000.It had 800 students in the past year. How many students should they accept in thenext year to break even assuming the variable cost margins are equal to this year,and assuming fixed costs are to increase by $19,000 due to increased rent forexpansion? (round to the nearest whole number).A firm’s manager must decide whether to make or buy a certain item used in the production of vending machines. Making the item would involve annual lease costs of $150,000. Cost and volume estimates are as follows Make Buy Annual fixed cost $150,000 None Variable cost/unit $ 60 $ 80 Annual volume (units) 12,000 12,000 Given these numbers, should the firm buy or make this item? There is a possibility that volume could change in the future. At what volume would the manager be indifferent between making and buying?
- Consider an insurance contract with the premium r=$200 and payout q=$800. a.) John has healthy-state income IH = $900 and sick-state income IS = $100. He has a probability of illness p = 0.2. Is the contract fair and/or full for John?Lina wants to take a nice vacation trip, so she begins setting aside P250 per month. If she deposits this money on the first of each month in a savings account that pays 6% interest compounded monthly, how much will she have at the end of 10 years?Harold, the owner of Sweet Tunes Music, purchased acoustic guitars for $90 each and has marked them up by 21.00% of the cost. The overhead expenses were 10.00% of the cost. a. What is the regular selling price of each guitar? b. What is the profit made on each guitar sold? c. If he decides to offer a markdown of 4.00%, what would be the reduced selling price? d. After reducing the selling price, what profit or loss he would make on the sale of each guitar?
- 1. Timothy received $100 for his birthday. He wants to buy either a new skateboard or a new mp3 player to listen to music while working out but he can buy only one. a. Which core principle is represented in this scenario above (if any). b. give an xplanation.(d) The company only has 4 workstations available. If it only operates its 4stations, how many weeks does it need to meet the production requirements?(e) The company has other contracts it needs to satisfy. Working on themugs more than 4 weeks means it will have to cancel another contract,incurring a penalty of $4,500. Each new workstation costs the company$2,500. What should the company do: cancel the contract or buy therequired workstations?Relevant Cost Exercises Each of the following situations is independent:a. Make or Buy Terry Inc. manufactures machine parts for aircraft engines. CEO Bucky Waltersis considering an offer from a subcontractor to provide 2,000 units of product OP89 for $120,000.If Terry does not purchase these parts from the subcontractor, it must continue to produce themin-house with these costs:[LO 11-1, 11-2, 11-3,11-4, 11-7]Cost per UnitDirect materials $28Direct labor 18Variable overhead 16Allocated fixed overhead 4Required1. What is the relevant cost (per unit, rounded to 2 decimal places) to make the product internally?2. What is the estimated increase or decrease in short-term operating profit of producing the productinternally versus purchasing the product from a supplier? (Round your answer to nearest whole dollar.)3. What strategic considerations likely bear on this make-vs.-buy decision?