Revenue function and cost function

Assignment Help Microeconomics
Reference no: EM13699540

A business owner used a revenue function and a cost function to analyze his monthly sales. One month he found that with a sales volume of 600 items he had revenues of $10,200. Another month he had total costs of $4,700 on a sales volume of 400 items. He also finds that the break-even point is 50 items. a. Find the revenue function. b. Find the cost function. Explain step by step

Reference no: EM13699540

Questions Cloud

Her minimum monthly payments are loan considerations : Mary's credit card situation is out of control because she cannot afford to make her monthly payments. She has three credit cards with the following 1 loan balances and APRs: Card 1, $4,500, 19%; Card 2, $5,700, 23%; and Card 3, $3,200, 15%. Interest..
Determine the current amount of money : Determine the current amount of money that must be invested at 12% nominal interest, compounded monthly, to provide an annuity of $12000 per year for 4 years, starting 11 years from now. The interest rate remains constant over this entire period of t..
Equation for total accounting cost and total economic profit : Three students consider the option of forming a lawn care and landscaping business during their summer vacation. They estimate the following costs: Insurance $2,600; Equipment Rental Fees $1,000; Fuel and Supplies $4 per lawn serviced and Miscellaneo..
Percentage of companys capital structure consists of debt : Hook Industries' capital structure consists solely of debt and common equity. It can issue debt at rd = 11%, and its common stock currently pays a $3.00 dividend per share (D0 = $3.00). The stock's price is currently $33.25, its dividend is expected ..
Revenue function and cost function : A business owner used a revenue function and a cost function to analyze his monthly sales. One month he found that with a sales volume of 600 items he had revenues of $10,200. Another month he had total costs of $4,700 on a sales volume of 400 items...
What is the pre-tax annual rate of return on this bond : You buy a bond for $1118 that pays $20 interest every 6 months. It will reach maturity in 9 years at which time it will return its face value of $1000 plus the final $20 interest payment. What is the pre-tax annual rate of return on this bond? Estima..
Analyze the work-incentive effects of mitterands programs : When the late Francois Mitter and was the president of France, he instituted a number of programs designed to appeal to his “blue-collar” constituency. He raised the income tax rate applicable to the rich and expanded the free, government-provided so..
Compute a weighted 3-month moving average forecast : Compute a weighted 3-month moving average forecast for months 4 through 9. Assign weights of 0.55, 0.33, and 0.12 to the months in sequence, starting with the most recent month.
Determine the elasticity of industrys labor demand curve : What factors determine the elasticity of industry’s labor demand curve? Based on these factors, discuss labor demand for factory line workers versus labor demand for nurses, which one would be more elastic?

Reviews

Write a Review

Microeconomics Questions & Answers

  Consider the utility-maximizing model in a two-good world

Consider the utility-maximizing model in a two-good world, where our representative consumer has well-behaved preferences that result in smooth indifference curves that are convex to the origin. Place good one on the horizontal axis.

  Permit trading can contribute to economic efficiency

Describe an environment in which permit trading can contribute to economic efficiency. How do permits make such a contribution?

  Evaluate the mu in the utility functions

Evaluate the MU in the utility functions

  What comparative advantage does abc have when establishing

abc co. has recognized numerous opportunities to expand in foreign countries and has assessed many foreign markets

  Cash flow diagram from the companys perspective

A large automobile manufacturing company is considering the installation of a high-tech handling system. The initial cost of the system is $3,000,000 and it is estimated it will save $750,000 per year in manual labor, and will incur $27,500 in operat..

  Examine a perfectly competitive firm

"Perfect Competition" Please responds to the following: Examine a perfectly competitive firm that you have recently purchased a product from, focusing specifically on how it relates to the characteristics of the market.

  Question on 4 different graphs illustrate what happens to

question on 4 different graphs illustrate what happens to equilibrium price and quantity in the market for orange juice

  What is the current rate of unemployment

What is the current rate of unemployment

  Graph and describe what would happen to rest of economy

a. graph and explain what would occur if the fed sold 1 million dollars worth of government securities to an agent when

  The agricultural household model

First write down the assumptions and state the utility maximization problem for a single-member household that is agriculturally productive but has no access to labor markets.

  Using indifference curve analysis describe how and why

assume that from the initial consumer equilibrium position price of good x falls while price of good y remains the

  For this assignment you are to continue using the same

for this assignment you are to continue using the same fortune 500 company you selected in unit 4. the focus here is on

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd