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The Morton Company produces and sells two products, A and B. Following financial data on the products is available:
Product A Product BSelling price $10.00 $12,00Variable costs $5.00 $10.00Fixed costs $2000.00 $600.00Machining time 0.5 hrs 0.25 hrs (only need for part d)
a. If these products are sold in the ratio of 4A for 3B, what is the break-even point?b. If the product mix has changed to 5A for 5B, what would happen to break-even point?c. In order to maximize the profit, which product mix should be pushed?
d. If both products must go through the same manufacturing machine and there are only 30,000 machine hours available per period, which product should be pushed?
Now suppose that the gross national debt initially is equal to $2.5 trillion and the federal government then runs a deficit of $100 billion: i. What is the new level of gross national debt ii. If 100 percent of this deficit is financed by the sale o..
Suppose that they are thinking of each specializing completely in the area in which they have a comparative advantage, and then trading at a rate of 2.5 pounds of potatoes for 1 chicken, would they each be better off. Which person has comparative ..
suppose in 2010, the cost of a market basket of goods was $2001. In 2012, the cost fo the same amrket basket of goods was $2,105. Calculate the price index for 2012, using the price index formula, asume 2010 is the base year________
L Q MPL APL 1 3 +3 3 2 6 +3 6 3 16 -10 -5.33 4 29 -13 -7.25 5 43 -14 -8.6 6 55 -12 -9.17 7 58 -3 -8.29 8 60 2 7.5 9 59 -1 -6.56 10 56 -3 -5.6 b). plot the (i) total product, (ii) marginal product, (iii) average product functions.
What is the short-run marginal cost curve b) What is the equation for average variable cost c) What is the minimum level of average variable cost d) What is the firm's short-run supply curve
A firm uses two variable inputs, labor, L, and raw materials, M, with typically shaped isoquants. It pays $20 per hour for L and $5 per unit for M. At the current mix of L and M, the marginal products of L and M are: MPL = 20 MPM = 4
Assume the point elasticity method. A 10 percent increase in income brings about a 15 percent decrease in the demand for a good. What is the income elasticity of demand and is the good a normal good or an inferior good
Use the following equations for demand and supply to solve for market equilibrium price and quantity: Demand: Qd = 100 - 4P Supply: Qs = 10 + 6P
The objective function measures profit, it is assumed that every piece stocked will be sold. constraint 2 measures time to set up the display in minutes. Constraints 3 and 4 are marketing restrictions.
Suppose that the Ofce can hire skilled labor h that can ll the forms without using computers. The output of the Ofce that hires h skilled labor, l unskilled labor and k computers is equal to y = l + 10 min (h; k) Solve the long-run cost minimizat..
Assume that when you graduate you will owe a total of $29,500 in student loans. Assume that the interest rate is 7.5%, compounded monthly, and that the entire amount must be repaid within 10 years. Determine what your minimum monthly payment will ..
a. Fill in the column of marginal products. What patent do you see? How might you explain it? b. A worker costs $100 that day, and the firm has fixed cost of $200. Use this information to fill in the column the total cost. c. Fill in the column for a..
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