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The Goldberg-Scheinman Publishing Company is publishing a new managerial economics text for which it has estimated the following total fixed and average variable costs:
Total Fixed Costs:
Copy Editing = $10,000
Typesetting = $70,000
Selling and Promotion = $20,000
Total Fixed Costs = $100,000
Average Variable Costs:
Printing and Binding = $6
Administrative Costs = $2
Sales Commissions = $1
Bookstore Discounts = $7
Author's Royalties = $4
Average Variable Costs = $20
Project Selling Price = $30
a). Determine the breakeven output and total sales revenues and draw the cost-volume-profit chart, and
b). determine the output that would generate a total profit of $60,000 and the total sales revenues at the output level; draw the cost-volume-profit chart.
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..
the general price inflation in our economy, the purchasing power of the dollar shrinks with the passage of time. If the average general inflation rate is expected to be 7% per year for the foreseeable future, how many years will it take for the do..
Assume that all other banks hold only the required amount of reserves. If First national decides to reduce its reserves to only the required amount, by how much would the economy's money supply increase.
(y=-1.4282+8.7243(1/x)\) using the given average values for y and x of 4.8% and 1.5%, respectively what is the rate of change at these mean values
where P is the price in cents per kilo and Q is the quantity in millions of kilos. Canada is a small producer in the world chick pea market, where the current world price (which will not be affected by anything we do) is 60 cents per kilo. The Gov..
On a diagram, draw the marginal cost curves for the two factories, the average and marginal revenue curves, and the total marginal cost curve (i.e., the marginal cost of producing Q = Q1 + Q2). Indicate the profit-maximizing output for each factor..
Suppose initially (period 0) the economy is endowed with $5 (billion) of capital stock and 10 (thousand) workers (let's ignore the units). We know that saving rate s is 0.15, population growth rate n is 0.01 and depreciation rate d is 0.09.
One question that arose during the meeting was about how the firm's profitability in their toothpaste division would be impacted by the expansion. The Board asked you to assess the profit potential using marginal analysis.
Now assume that intermediaries come from a competitive market with and equilibrium price of $8 per unit for their services, that is, any buyer or seller who wants an intermediary's services must pay $8 for them. What is the maximum per unit that s..
Clean Supreme is a corporation that produces and sells powdered laundry detergent in the U.S. The company has estimated the following regression equation for the demand of its Brand Z detergent:
Suppose a competitive firm can sell its output for $9 per unit. The following table gives the firm's short run production function. Labor Output 0 0 1 8 2 20 3 35 4 44 5 51 6 54 In the table below, you will determine several points on the firm's d..
Given at the period 1950-1973 Labor Growth = 1.35, Capital Growth = 3.83, Potential GDP growth = 4.02 Share of Labors = .7, US Population = 152, US population in the end of the year = 212 What share of potential GDP per capita in each period is expla..
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