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Offshore Petroleum's fixed costs are $2,500,000 and its debt repayment requirements are $1,000,000. Selling price per barrel of its oil is $18 and variable costs per barrel are $10.
a) Determine the breakeven output (in dollars)
b) Determine the number of barrels of oil that offshore must produce and sell in order to earn a target (operating) profit of $1,500,000.
c) Determine the degree of operating leverage at an output of 400,000 barrels.
d) Assuming that sales of oil are normally distributed with a mean of 362,500 barrels and a standard deviation of 100,000 barrels, determine the probability that Offshore will incur an operating loss.
Marginal revenue product is defined as the change in total revenue that results from the employment of an additional unit of a resource. A widget producer wishes to determine how the addition of pounds of rubber will affect its MRP
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Draw a supply-demand equilibrium for each of the cigarette and chewing tobacco markets before and after the introduction of the regulations.
The U.S. Border Patrol is considering the purchase of a new helicopter for aerial surveillance of the New Mexico-Texas border with Mexico. A similar helicopter was purchased 4 years ago at a cost of $140,000.
Coal prices moved in sympathy with oil prices, with the result that coal companies earned pure economic profits. Since coal is a homogeneous good and the market is competitive, what happend in this market.
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Consider each transaction separately,not cumulatively.
The applicable discount rate is 7 percent. One annuity pays $4,000 on the first day of each year for twenty years. How much does the second annuity pay each year for twenty years if it pays at the end of each year.
calculate the exact elasticity of demand in the following examples: Then tell if, in each case, demand is elastic, inelastic, or unitary elastic. (a) When the price of a deluxe car wash rises from $10.00 to $11.00, the number of daily customers fa..
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a firm faces a demand cure, p=80-3q, and has a cost equation c=200+20q Find the optimal quantity and price for the firm, now suppose that demand changes to p=1103Q. find the new optimal and quantity. has there been an increase or a decrease in dema..
Are there any predictable performance cycles for Wal-mart? If so, what are the periods over which its cycle waxes and wanes?
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