You've decided to sell sweatshirts for the upcoming game. You project that at a price of ​$33.24 per​ sweatshirt, you will be able to sell 120 shirts. In order to sell 260 ​sweatshirts, you would need to lower the price to ​$23.02 per sweatshirt. In order to produce the​ sweatshirts, it costs you ​$2.62 per sweatshirt on top of fixed costs of ​$340. What price gives a marginal profit of​ $0 per item. Assume linear demand.

Q: In​ 2012, the Campbell Soup Company acquired Bolthouse Farms for​ $1.55 billion. This acquisition…

A: Given a certain return rate, the present value of an investment is the current worth of that…

Q: Roger Clark obtains long-stem roses from Fred’s Flowers each Friday for sale to the public. Fred…

A: Demand: It refers to the goods and services that people buy or purchase for their consumption. The…

Q: Becky's profit is maximized when she produces shirts. When she does this, the marginal cost of the…

A: In Microeconomics, perfect competition refers to the market where all firms sell homogenous…

Q: Suppose that you own a 10-acre plot of land that you would like to rent out to wheat farmers. For…

A: Normal Profits are determined by taking the difference between the revenue earned and the costs…

Q: . Lewis & Clark has announced that it will license two firms to serve food to students on campus.…

A: The total production process of a firm/industry is an amalgamation of various costs, the optimum…

Q: Danielle decides to withdraw her savings of $70,000 and invest in starting her own clothing…

A: Accounting profit is a company's net income, which is revenue minus expenses. Economic profit is…

Q: You are considering quitting your job where you earn $3,500 per month and opening a new business.…

A: Here, it is given that an individual quits his job to start a business in which he pays various…

Q: The industry says you can sell 5 sweaters for $25, 6 sweaters for $36, or 7 sweaters for $40.  Using…

A: Economic profit is given by the difference between the revenue from sales and the cost of inputs.…

Q: A new production technology for making vitamins is invented by a college professor who decides not…

A: “Since you have posted a question with multiple sub-parts, we will solve first three sub-parts for…

Q: Billionaire real estate mogul Glenn Rhee owns two large parcels of land in Alexandria, VA: Greenacre…

A: Greenacre was purchased by Walker Treatment Inc., which is a hazardous materials treatment center.…

Q: What is the likelihood that firms would enter the market in the short-run? Use COVID-19 as a market…

A: It would be very unlikely for a firm to enter a market in the short-run especially when going…

Q: In Figure 2 ......... would make a revenue of..............if it produced 40 and a revenue of…

A: (Q)In Figure 2 ......... would make a revenue of.............. if it produced 40 and a revenue of…

Q: Nokia 10, Samsung X and iPhone 7. Suppose further that, your company currently sells 120 units of…

A: Price elasticity of demand measures the responsiveness in quantity demanded of a commodity to a…

Q: Please help with the following question. You are able to sell 15 gallons of ghost pepper sauce per…

A:

Q: Suppose that a firm produces 275,000 units a year and sells them all for $8 each. The explicit costs…

A: Given: Units produced=275000 Selling price=$8 Explicit cost=$18,00,000 Implicit Cost=$400,000

Q: Assume you have decided to buy an advertisement in the local newspaper to publicize your new pet…

A: It is given that, the total cost of ad is $1, 000, the total fixed cost for each dog is $40, and the…

Q: QUESTION 9 In the Bertrand model, suppose that each firm has a marginal cost of £10 and that firm 1…

A: A Bertrand model is a model in economics in which the firms use their marginal costs to set prices…

Q: Roger Clark obtains long-stem roses from Fred's Flowers each Friday for sale to the public. Fred…

A: Demand refers to the goods or services that people are willing to buy with their given purchasing…

Q: You are the manager of medium-sized company that assembles personal computers in Ghana. You…

A: In case of Normal Good as the income increases, the quantity demanded for normal good increases and…

Q: You are the manager of a small pharmaceutical company that received a patent on a new drug that…

A: The price elasticity is given as -2.5 MC= 0.25 Current price charged = 1.25 Here the firm is a…

Q: Ammar's. Because there is no direct competition at the stall, the seller can sell his kebab for $4…

A: We are going to solve for Subgame perfect Nash equilibrium to answer this question.

Q: As CEO of firm A, you and your management team face the decision of whether to undertake a $200…

A: According to given information, firm A has 40% chance and firm B has 30% chance of winning. That…

Q: Refer to Scenario 1-2. Using marginal analysis terminology, another economic term for the…

A: Cost represents the different types of expenses incurred by the firm in the production of goods and…

Q: Assume there is just one kebab stall selling kebab to students at the University of London, which we…

A: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question and…

Q: Two women have decided to start a cottage industry that will be run out of their homes. They are…

A: Given profit function = 16x +20y -x2 -y2 and here the budget constraint is x+y =6

Q: young chef is considering opening his own sushi bar. To do so, he would have to quit his current…

A: Cost (explicit) is the summation of cost which an owner spends while starting a business. It…

Q: Assume there is just one kebab stall selling kebab to students at the University of London, which we…

A: Given,  Two Players : Player 1 and Player 2 Player 1 has two options : High and Low Player 2 has two…

Q: Fill in the blanks: The owner of a firm expects to make a profit of Php200,000.00 for each of the…

A: The measure that depicts the current stream of income being discounted at a specified rate of return…

Q: Consider a new business that invests $20 million into a plant to manufacture loaves of bread. The…

A:

Q: You are the manager of a small pharmaceutical company that received a patent on a new drug that…

A: The provided information are: Elasticity of demand (E) = -2.5 Marginal cost = 0.25 Price charged…

Q: ou've just been hired to run a division of a toy manufacturing company. Your boss informs you that…

A: Recall that, If demand is inelastic, increasing prices raises revenue. If demand is elastic,…

Q: Suppose that it takes 1 ton of fertilizer to produce 3 tons of peas.  Prepare a table to show the…

A:

Q: You use RM50,000 of your own money to start an espresso stand. During the first year you earn a 10%…

A: The amount that has been used to start an espresso stand = RM 50,000 The return of investment for…

Q: The table below presents the average and marginal cost of producing cheeseburgers per hour at a…

A:

Q: Suppose that you own a 10 acre plot of land that you would like to rent out to wheat farmers. For…

A:

Q: Q2. At a recent board meeting, the president and CEO got into a heated argument about whether to…

A: given that, Miami plant currently loses $60000 monthly. Miami plant fixed costs are $68000 per…

Q: Two women have decided to start a cottage industry that will be run out of their homes. They are…

A:

Q: our cost of production is given by

A: Price of a watch is ​$100 The marginal cost of​ production, MC(q)​, is 4​q Since this is a…

Q: You are managing a restaurant establishment earning net of Php800,000.00 per year decides to open…

A: Introduction The expenditure incurred on these inputs is called cost of production. Opportunity cost…

Q: Based on concepts discussed in this chapter, describe the factors that have contributed to Bose’s…

A: BOSE (founded by Amar Bose) in 1964, is the leading manufacturer of sound equipment in the world.…

Q: this a good example of a sunk cost? Why or why not? “As an entrepreneur, advertising your product…

A: Yes, money spent on advertising and marketing is a sunk cost.  A sunk costs is a cost that you have…

Q: You own a company that produces widgets. You currently produce 100 widgets; each widget sells for…

A: Macroeconomics and microeconomics are important part of country mechanism. Aggregate demand and…

Q: You are the manager of a firm that produces products X and Y at zero cost. You know that different…

A: When the firm charges $210 for the bundle of X and Y, then the profit can be calculated as follows:…

Q: You are the manager of a firm that produces products Xand Yat zero cost. You know that different…

A: There are three types of consumers with different willingness to pay for two goods X and Y. Each…

Q: A person has the choice of running hot snack stall or an ice cream and cool drink shop at a certain…

A: The answer is given in two steps below in the picture:

Q: Suppose Sharon gives haircuts on Saturdays to make extra money. She is the only person in town…

A: Solving questions

Q: As CEO of firm A, you and your management team face the decision of whether to undertake a $200…

A: We are going to analyse expected payoff analysis to answer this question

Q: You have just taken over the job of senior product manager for a line of Consumer Home Routers at…

A: It is given that,From all the sources, it is found that a 10% increase in price leads to a 20%…

Explicit and Implicit Cost Analysis

The entire idea of the cost of production or production cost is applied corresponding or we can say that it is related to money cost. Money cost refers to any money expenditure which the firm or supplier or producer undertakes in purchasing or hiring factors of production or factor services.