You own a company that produces helmets. You are currently selling 100 helmets per week. Your average total cost of producing these helmets is $100. Recall ATC=TC/Q. A customer comes to your store and says he needs a helmet and will pay you $95 for it. Thus you need to produce the 101st helmet if you make the sale. Your average total cost if you produce 101 helmets is $99.95. Do you sell the helmet to the customer for $95?
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You own a company that produces helmets. You are currently selling 100 helmets per week. Your
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- Next Friday, you plan to sell cakes at a bake sale to raise money for your school. You plan to charge $30 per cake, and you anticipate that you will sell 10 cakes. You can either purchase cakes to sell or bake them yourself. If you purchase the cakes, they will cost $21 each. If you bake your own cakes, your cost depends upon the number of cakes you bake, as shown in the table below. Number of cakes you bake Total cost of baked cakes ($) 0 0 1 10 2 22 3 36 4 52 5 70 6 90 7 112 8 136 9 162 10 190 a) How many cakes should you bake? How many cakes should you purchase? Bake cake(s) purchase cake(s). b) Given your answer to part a, how much in total will the 10 cakes cost you? $ c) How much would it have cost you to bake all 10 cakes? $ d) How much would it have cost you to purchase all 10 cakes? $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?Next Friday, you plan to sell cakes at a bake sale to raise money for your school. You plan to charge $30 per cake, and you anticipate that you will sell 10 cakes. You can either purchase cakes to sell or bake them yourself. If you purchase the cakes, they will cost $17 each. If you bake your own cakes, your cost depends upon the number of cakes you bake, as shown in the table below. Number of cakes you bake Total cost of baked cakes ($) 0 0 1 10 2 22 3 36 4 52 5 70 6 90 7 112 8 136 9 162 10 190 a.) How many cakes should you bake? How many cakes should you purchase? b.) Given your answer to part a, how much in total will the 10 cakes cost you? c.) How much would it have cost you to bake all 10 cakes? d.) How much would it have cost you to purchase all 10 cakes?
- If TC = 108 + 20Q + 3Q2 , what level of Q generates the minimum average cost?Enter as a value.Employees at the Jackson Hole Corporation typically take forty-five minutes for lunch when the allocated time is only thirty minutes. Employees are encouraged to eat at the company cafeteria located in the middle of the company facilities. Most employees choose to eat their lunch in the cafeteria. Is there an agency cost here? If so, how can management eliminate or reduce this agency cost? How might management eliminate this agency cost? (Select all that apply.) A. If the facilities are sufficient to handle a thirty minute lunch the solution may be as simple as reaffirming the lunch break time with the employees. B. It may be more costly to enforce the thirty minute lunch time than to accept the standard forty-five minute break currently used by employees. Not all agency costs can be eliminated or reduced. The norms of the employees and the ability of current facilities to support a policy need to be considered when setting policies, in this case the length of the lunch…Next Friday, you plan to sell cakes at a bake sale to raise money for your school. You plan to charge $30 per cake, and you anticipate that you will sell 10 cakes. You can either purchase cakes to sell or bake them yourself. If you purchase the cakes, they will cost $11 each. If you bake your own cakes, your cost depends upon the number of cakes you bake, as shown in the table below.Number of cakes you bake Total cost of baked cakes ($)0 01 102 223 364 525 706 907 1128 1369 16210 190 a. How many cakes should you bake? How many cakes should you purchase?Instructions: Enter your answer as a whole number.Bake ___ cake(s) and purchase ___ cake(s).b. Given your answer to part a, how much in total will the 10 cakes cost you?Instructions: Enter your answer as a whole number. Note:- Don't use pen or paper and chatgpt
- Assume you are an engineer working for a chemical production company. You are on the technical team that is responsible for deciding what to do about the dangerous chemical that your company is using to produce its best-selling chemical product. Recent reports have just made known the dangers of this chemical, and the company now needs to decide how to proceed. There are several options to consider: stop producing the harmful product altogether and take a hit on total profits; continue to make the product and sell it, like nothing's wrong, since the federal government has not cracked down. You could also spend money and engineering efforts in R&D to develop a safe chemical that would take its place. There is no guarantee that this would happen any time soon, but the scientists think it is realistically possible. To make matters worse, your biggest competitor produces this harmful product off-shore and is not hampered by the US regulations. If you stop producing this product…Refer 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.With new healthcare regulations, many hospitals have merged, creating hospital systems. As a result, the long-run average cost of offering health services have increased. This is an example of Group of answer choices increasing cost industry. two cost industry. decreasing cost industry. constant cost industry.
- Becky and Sarah are sisters who share a room. Their room can easily get messy, and their parents are always telling them to tidy it. Here are the costs and benefits to both Becky and Sarah of taking the time to clean their room: If both Becky and Sarah clean, they each spend two hours and get a clean room. If Becky decides not to clean and Sarah does all the cleaning, then Sarah spends 10 hours cleaning (Becky spends 0) but Sarah is exhausted. The same would occur for Becky if Sarah decided not to clean—Becky spends 10 hours and becomes exhausted. If both girls decide not to clean, they both have a dirty room. What is the best outcome for Becky and Sarah? What is the worst outcome? (It would help you to construct a prisoner’s dilemma table.)Becky and Sarah are sisters who share a room. Their room can easily get messy, and their parents are always telling them to tidy it. Here are the costs and benefits to both Becky and Sarah of taking the time to clean their room: If both Becky and Sarah clean, they each spend two hours and get a clean room. If Becky decides not to clean and Sarah does all the cleaning, then Sarah spends 10 hours cleaning (Becky spends 0) but Sarah is exhausted. The same would occur for Becky if Sarah decided not to clean—Becky spends 10 hours and becomes exhausted. If both girls decide not to clean, they both have a dirty room. What is the best outcome for Becky and Sarah? What is the worst outcome? (It would help you to construct a prisoner’s dilemma table.) Unfortunately, we know that the optimal outcome will most likely not happen, and that the sisters probably will choose the worst one instead. Explain what it is about Becky’s and Sarah’s reasoning that will lead them both to choose the worst…Becky and Sarah are sisters who share a room. Their room can easily get messy, and their parents are always telling them to tidy it. Here are the costs and benefits to both Becky and Sarah, of taking the time to clean their room: If both Becky and Sarah clean, they each spends two hours and get a clean room. If Becky decides not to clean and Sarah does all the cleaning, then Sarah spends 10 hours cleaning (Becky spends 0) but Sarah is exhausted. The same would occur for Becky if Sarah decided not to clean—Becky spends 10 hours and becomes exhausted. If both girls decide not to clean, they both have a dirty room. a. What is the best outcome for Becky and Sarah? What is the worst outcome? (It would help you to construct a prisoner’s dilemma table.) b. Unfortunately, we know that the optimal outcome will most likely not happen, and that the sisters probably will choose the worst one instead. Explain what it is about Becky’s and Sarah’s reasoning that will lead them both to choose the…