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Brian and Kim own a business employing 8 workers to produce commemorative t-shirts for campus organizations and events. They are currently producing 2000 shirts per month with average total cost of $8.00, average fixed cost of $2.00, and marginal cost of $10.00.Calculate the following for Brian and Kim's firm:a) average variable costb) total fixed costc) total cost
People end up tossing 12% of what they buy at the grocery store (Reader's Digest, March, 2009). Assume this is the true population proportion and that you plan to take a sample survey of 540 grocery shoppers to further investigate their behavior.
Elaine as senior partner can make a take-it-or-leave it offer to her junior partner John to undertake a project and split the profits of $10,000. She considers just two offers: an 80-20 split (favoring Elaine), or a 50-50 split.
You purchased a $10,000.00 face value commercial bond for $9000.00 on June 1, 2007. The bond pays $500.00 interest at the end of each six months. It is now June 1, 2008. Thus, you have already received two $500.00 payments. The bond matures in fiv..
The services of a certified psychologist cost $110 per hour, and an extended health plan covers 50 percent of that cost. Under the plan, the clients covered used 625 hours of this service in a typical three-month period. To save money, the extende..
Suppose there are n identical firms in a market in long run. Each firms cost function is given by C=32+.5q^2, where q is the amount that an individual firm produces. This means that an individual firms marginal cost is given by MC=q.
The banking market in Athens, Ohio, currently has four banks with market shares of 60%, 20%, 15%, and 5%. The two smallest banks have proposed merging. Under the standard merger guidelines of the Federal Reserve and the Justice Department.
Thompson Mechanical Product is planning to set aside $150,000 now for possibly replacing its large synchronous refiner motors whenever it becomes necessary. If the replacement is not needed for 7 years, how much will the company have in its invest..
The local operations manager for IRS must decide whether to employee 1, 2, or 3 temporary employees. He determine that net revenues will vary with how well taxpayers comply with new tax code.
P=.60 n=19 A. Find the probability that at least 15 of the 19 do not know what effect the law will have on their corporate tax liabilities. B. Find the probability that no more than 10 do not know what effect the law will have.
i) If there is no trade in this market between the US and the rest of the world, what is the equilibrium price in the US market (ii) If there is no trade in this market between the US and the rest of the world, what is the equilibrium price in the ..
Assume that an investor is risk-neutral (i.e. assume that the investor always chooses the investment with the higher expected rate of return even if it is riskier). If the yield on 1-year marketable CD's is 6% while the yield on 2-year marketable ..
Owen runs a delivery business and currently employs three drivers. He owns three vans that employees use to make deliveries, but he is considering hiring a fourth driver. If he hires a fourth driver, he can schedule breaks and lunch hours so all thre..
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