If the economic order quantity 600 units, annual demand 9,000 units, and order costs $30 per order, what is the holding cost for P. S. Ravi Metalworks? The holding cost, H, is $(round your response to two decimal places).
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- You are in charge of purchasing equipment for a construction firm. You just bought 5 new machines, each costing $1MM. After some market research, you concluded that: 2 machines can be sold in the secondary market for $500K 3 machines can be sold in the secondary market for $200K What are the sunk costs associated with purchasing the machines the 5 machines? $5 million $3.4 million $5000,000 $1.6 millionABC Company is the manufacturer of a low-noise air-purification system. Its current capacity is 10,000 units/month, but ABC received orders totaling 9,000 units each month. Currently, ABC sells its system at a price of $200 per unit, its fixed cost is $500,000/month, and its variable cost is $100/unit. Note that currently, half of ABC’s variable cost is materials, and the other half is labor cost (wages for workers). ABC wants to consider cutting its price by 10% to stimulate demand. If ABC expands its capacity, it will have to lease additional manufacturing machines, each of which will cost $20,000/month to lease and can add 1000 units to ABC’s capacity. All existing workers are already working full-time. So, if ABC expands production, ABC has to either pay existing employees for overtime (1.5 times the regular wages) or hire new workers, who are expected to be paid 90% of the hourly wage of existing workers but produce only 75% of the hourly output of existing workers. (a) What is…An ag firm is looking to produce 30 units of output. If the firm were to operate at the least-cost level of inputs to reach 30 units of output and their rental rate on capital equals $50 per hour while their wage rate equals $10 per hour, what is the total cost for the firm for operation at that level?
- Please select all that are true regarding Minimum Efficient Scale (MES): if the quantity demanded is equal to Qmes, then the lowest cost solution is for one firm to supply the market MES is the quantity produced where average costs for a firm are at a minimum Long run average costs include fixed cost steps as quantities (scale) increase Quantities (x-axis) less than MES exhibit decreasing returns to scale due to diminishing marginal returns Short run average cost curves are for a given level of fixed cost, individually MES is the quantity demanded where total costs for a firm are at a minimum Quantities (x-axis) greater than MES exhibit decreasing returns to scale due to diminishing marginal returns Average costs do not include fixed cost since they don't changeIf the carrying charge rate changes from 18% to 21%, what happens to the Economic Order Quantity Q?Suppose a company has fixed costs of $31,200 and variable cost per unit of 1 3 x + 444 dollars, where x is the total number of units produced. Suppose further that the selling price of its product is 1768 − 2 3 x dollars per unit. Find the break-even points. (Enter your answers as a comma-separated list.) Find the maximum revenue. (Round your answer to the nearest cent.) Form the profit function P(x) from the cost and revenue functions. Find maximum profit. What price will maximize the profit? (Round your answer to the nearest cent.)
- Q45 When a factory is operating at the level of output where its short-run average total cost is at its minimum, ... a. Marginal cost is at a minimum. b. Average fixed cost is at a minimum. c. The factory is operating at its capacity. d. More of the variable factor of production should be employed. e. Average variable cost is at a minimum.Glen Eira City Council wants to impose a tax to fish and chips shops. It is considering two types of tax:- a lump sum of 500$ on each fish and chips owner- a tax of 2$ per kg of fish and chips sold, paid by each fish and chips owner(a) Which cost curve would shift as a consequence of each type of tax? (AFC, AVC, (b) Consider the following table of long-run total cost for three different fish andATC, MC)?You are a newspaper publisher. You are in the middle of a one-year rental contract for your factory that requires you to pay $600,000 per month, and you have contractual labor obligations of $1,250,000 per month that you can’t get out of. You also have a marginal printing cost of $0.35 per paper as well as a marginal delivery cost of $0.10 per paper. Instructions: Round your answers to 2 decimal places. c. What happens to the minimum amount that you must charge to break even on these costs? It increases from $...........per paper to $2.76. what is the price for paper?
- Give the area that represents the following Total CostTotal Variable CostTotal Fixed CostTotal RevenueProft/Loss Arearofit is found as total revenue (TR) minus total cost (TC). With that in mind, let us now consider the possible profits for the firm that we looked at in assignments 7 and 8, where the firm’s capital is fixed at 2 units and where the cost of capital is $40 per unit per period, while the cost of labor (or wage rate) is $30 per unit of labor per period and the firm has the following short run production function: Labor: 0 1 2 3 4 5 6 7 8 9 Output: 0 6 24 60 120 170 210 240 260 270 Now, let us further assume that the firm is perfectly competitive (i.e., it is a price taker) and that it can sell each unit of the output that it produces for $3 [remember, for price takers, the price (P) is also the marginal revenue (MR)]. (a) Use this information set up a diagram (i.e., an excel chart) that shows total cost (TC) and total Revenue (TR) of the firm per period in the short run with the level of output on the horizontal axis. (b) Also, use…Q4 the unit cost, in dollars,to produce bins of cat food is $4 and the fixed cost is $22638. The revenue function,in dollars, r(x)=-2x^2+452x find the cost function. c(x)=___find the profit function. p(x)=at what quantity is the smallest break-even point ? a.dollars b.servings of cat food c.bins of cat food d.grams of cat food
