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Janet Gilbert is director of a lab. She has some extra capacity and has contracted with some small neighboring hospitals to run some of their lab tests. She has recently had a study conducted and has determined that her costs for these contracts are $50,000, of which $7,000 is the variable cost of supplies. The rest is non avoidable fixed cost. She currently charges an average of $30 per test. She is thinking of lowering her price by 20 percent in hopes of raising her current volume of 20,000 tests by 25 percent. If she does so, she expects her variable cost per test will go up by 5 percent. Determine the current and predicted (a) revenues (b) variable costs, and (c) total contribution margin and product margin. What should she be recommended to do? Why?
Suppose the government of Washington is considering the addition of a new tax on firms. You have been called in to provide expert analysis on how such a tax would affect employment of labor. There are 3 proposals the government is considering:
State the definition of spillover benefits, give 2 examples. Define and explain spillover benefit. Give two example of a spillover benefit situation and explain
After 8 years of use, the heavy truck engine overhaul equipment at Pete’s Truck Repair was evaluated for replacement. Pete’s accountant used an after-tax MARR of 8% per year, tk = 30%, and a current market value of $25,000 to determine AW = $2100. Th..
At the end of the one-year contract, what will his "friend" offer John as the price for an extension of the deal?
Max has the utility function U(x, y) = x(y + 1). The price of x is $2 and the price of y is $1. Max’s Income is $11. How much x does Max demand? How much y? If his income doubles and prices stay unchanged, will Max’s demand for both goods double?
The owner of a small car-rental service is trying to decide on the appropriate numbers of vehicles and mechanics to use in the business for the current level of operations. Assume that annual (leasing) cost per vehicle is $6,000 and the annual salary..
Which of following arguments is president using to justify trade restriction on ball bearings.
Describe the benefits and costs associated with each type of externality. What happens to the Supply and/or Demand curve in each of your examples.
The classical dichotomy refers to the separation of
To synthesize just means to combine various parts or elements together in order to draw conclusions. In a post of between 150 and 250 words, discuss the following prompt: Consider what your textbook says about "nature versus nurture" (Chapter 3) in r..
Suppose that since some base year, the price index (or GDP deflator) has increased from 100 to 125. During the same time period, NOMINAL GDP has increased from $500 billion to $600 billion. What is the value of REAL GDP at the end of this period -exp..
Consider debt and exchange rate crisis vulnerability for the country of Ukraine; please explain how you would minimize risks to possible investment.
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