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Your company, Bright Paints, is one of a dozen companies manufacturing a special reflective paint used for traffic signs. The State Department of Transportation has called for tenders to supply 10,000 gallons of blue reflective paint to be delivered within two months. You can foresee fitting in a production run of the blue paint and have decided to bid on the job. You calculate your incremental costs for this job to be $76,200. This particular contract is standard, similar in all in respects to hundreds of contracts you have bid on over the past few years. Your pricing policy has been to apply a mark-up to incremental costs to arrive at the bid price. Your mark-up has been higher when you had plenty of orders and lower when you had few or no orders to fulfill. You have assembled data relating the mark-up rate used in the percentage of contracts won at each mark-up rate, as follows.
mark-up rate(%) %of contracts won at that rate
0 95.9
10 84.8
15 65.4
20 41.3
25 15.3
30 3.0
35 0.2
Tetrangle Manufacturing has fixed costs of $2,160 per day. The firm manufactures bicycle component upgrade kits. What is the breakeven level of daily output for the firm?
As an economist you have been tasked to address a meeting of a company on international professional to describe the differences between micoeconomics and maroeconomic and give real world example.
You have been asked to develop a financial analysis of two projects and based on Net Present Value (NPV), Return on Investment (ROI), and Profitability Index (PI).
Suppose a medical study reveals new benefits to consuming beef, and at the same time a bumper corn crop reduces the cost of feeding cattle. The equilibrium quantity of beef will stay the same.
Can you please explain the profit maximizing decision the perfectly competitive firm makes in the short run and describe why this firm can make profits in the short run, but profits aren't possible in the long run.
Consider a market characterized by the following inverse demand and supply functions: PX = 10 - 2QX and PX = 2 + 2QX?
What is an "oligopoly" and why do they exist? Mention three or four oligopolies whose products you own or regularly purchase.
Analyze how the different forces will come together to create a convergence between the interests of stockholders and managers.
Calculated the point price elasticity of demand for Papa burgers and calculate the optimal price for Papa burgers if marginal cost is $1 per unit.
What subsidy is necessary to induce the monopolist to produce the socially optimal level of output?
Assume you can only consume good X and Y out of abudget of $120. Your utility function is U = ln(X)+ln(Y ).
Determine what are the reporting reasons on why gasoline prices have been fluctuating and trending upward for the past twelve months.
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