me is $24.
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Susan has the option to purchase eyeglasses, E, $3 each, and orange juice, O, $1
each. Her income is $24.
i. Illustrate what happens to the budget line if the price of orange juice
increases to $2.
ii. Using the results in part (i) explain the income and substitution effects?
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- Louis Petit, a manager of Doggone Gorgeous, Inc., was reviewing the water bills of a dog daycare and spa. He determined that its highest and lowest bills of $3,800and $2,000 were incurred in the months of May and November, respectively. If 600 dogs were washed in May and 100 dogs were washed in November, what was the fixed cost associated with the company's water bill? (Round any intermediate calculations to the nearest cent and your final answer to the nearest dollar.) A.$ 2 comma 000 $2,000 B.$ 1 comma 800 $1,800 C.$ 1 comma 640 $1,640 D.$ 3 comma 800ABC operates a consignment shop where she sells clothes for women and children. The average number of consignments sold per month is 1,000. The average material cost and the selling price of each consignment are $8 and $20, respectively. The monthly fixed costs to run this business are given below: Rental cost: $750Utilities: $150Advertising: $35Insurance: $100Labor cost: $4,000 Using Excel spreadsheet / worksheet, determine Anna's profit. Attach excel solution.Caroline, the owner of Caroline’s Boutique, estimates that she will sell P300,000 worth of certain decorator table this year (P5,000/unit). Her accountants have determined that ordering costs amount to P1,250 per order and that carrying cost to 30% of average inventory. a.What is the optimum number of orders per year? b.How much is the optimum peso per order? c.What is the optimum number of units per order?
- Wanda wants to open a health-food store. Her monthly expenses are rent $3,500, utilities of $1,000, insurance of $500, and payroll of $4,250. She estimates that her cost of goods is approximately 65 percent of sales. Wanda would like to make $4,000 a month for herself. What is Wanda’s contribution margin? How much does she need in monthly sales to break even? How much does she need in monthly sales to make a profit of $4,000? Construct a break-even chart for Wanda’s health-food store.Radien runs her own hot dog stand on the U of A campus. The monthly cost of the cart rental and business permit is $1,100. Raiden spends $2.50 on each hot dog sold, including bun and condiments. She sells each hot dog for $5.00. 1. What is the contribution margin per unit? 2. What is the contribution margin ratio? 3. Predict operating income for a month in which Raiden sells 1,300 hot dogsKristin is a distributor of bras picture frames. For 20X4, she plans to purchase for P30 each and sell them for P45 each. Kristin’s fixed costs are expected to be P 240,000. Kristin’s only other cost will be variable costs of P60 per shipment for preparing the invoice and delivery documents, organizing the delivery, and following up for collecting accounts receivable. The P60 cost will be incurred each time Kristin ships an order of picture frames, regardless of the number of frames in the order. Suppose Kristin anticipates making 500 shipments in 20X4, how many picture frames must Kristin sell to break-even in 20X4 a. 18,000 b. 12,000 c. 14,000 d. 16,000
- Kristin is a distributor of bras picture frames. For 20X4, she plans to purchase for P30 each and sell them for P45 each. Kristin’s fixed costs are expected to be P 240,000. Kristin’s only other cost will be variable costs of P60 per shipment for preparing the invoice and delivery documents, organizing the delivery, and following up for collecting accounts receivable. The P60 cost will be incurred each time Kristin ships an order of picture frames, regardless of the number of frames in the order. Suppose Kristin sells 40,000 picture frames in 1,000 shipments in 20X4, what is the kristin’s operating income for 20X4? a. P 300,000 b. P 420,000 c. P 240,000 d. P 450,000Wanda wants to open a health-food store. Her monthly expenses are rent$3,500, utilities of $1,000, insurance of $500, and payroll of $4,250. Sheestimates that her cost of goods is approximately 65 percent of sales. Wandawould like to make $4,000 a month for herself.a. What is Wanda’s contribution margin?b. How much does she need in monthly sales to break even? c. How much does she need in monthly sales to make a profit of $4,000?d. Construct a break-even chart for Wanda’s health-food store.A local pizza shop owner decides to hire an economic consultant to help him set his prices. Currently, one slice of pizza costs $2 and the store sells about 800 slices per week. The pizza shop's current revenue from sales is equal to $____. The economic consultant estimates that the price elasticity of demand is equal to -0.25, and suggests that the shop owner should increase the price of a slice of pizza by $0.50; that is, the consultant recommends increasing the price of pizza by ____%. The consultant claims that doing so would (a. Increase b. Decrease or C.have no effect on)_____ the number of slices sold by ____% or ____ slices. As a result, the economist predicts that the new revenue would be ____ Thus as a result of the increase in the price there is ____ in revenue. This is due to the fact that the pizza shop owner was operating on the ____ portion of the demand curve. (fill in the blanks)
- Charlotte sells widgets which cost $50 each to purchase and prepare for sale. Annual sales are 10,000 widgets, carrying cost are 15% of inventory costs, and Charlotte incurs a cost of $25 each time an order is placed. Suppose her supplier decides to offer a 3% cash discount if products are ordered in increments of 1250. How many widgets should Charlotte order each time an order is placed to minimize costs? I have submitted this question twice and both times was answered with how many orders of 1250 will satisfy the demand of 10,000 widgets. I need to know how to figure out HOW MANY WIDGETS PER ORDER to minimize costs.What is the pricing equation and how is it used? If the product list price is $1000 and the retailer typically discounts the product at the end of the season by 20% on list price as an Incentive to sell the remaining 20% of the inventory to make room for next season’s products, what amount of upsell effort (Extra Fees for services) would be required all season to achieve an average Final Price paid by customers of 6% over list price over the entire season? Show your equations and calculations.Three years ago, Marissa Moore started a business that creates and delivers holiday and birthday gift baskets to students at the local university. Marissa sells the baskets for $25 each, and her variable costs are $15 per basket. She incurs $12,000 in fixed costs each year. How many baskets will Marissa have to sell this year if she wants to earn $30,000 in operating income? (Round answer to 0 decimal places, e.g. 5,275.)