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Jenny is starting a bakery and needs some help with pricing the muffins. Since she knows you have studied pricing, please help her to determine the following.
The muffins cost $0.35 to produce. She would like to sell them for $1.20. What is the mark-up percentage of selling price?
She also wants to see what the price would be if she marked up the product 90%.
She also needs to find her breakeven in units...in other words how many muffins must she sell to breakeven. Fixed Cost $5,000.00 with a per-unit contribution to fixed cost of $1.20.
The wage in Mexico is $5. The wage in the U.S. is $20. Given current employment, the marginal product of the last worker in Mexico is 100, and the marginal product of the last worker in the U.S. is 500.
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In his 1962 book "Economic Development," Galbraith presents eight assumptions about the causes of poverty. What are the eight assumptions?
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Is it appropriate to think of all of Australia as a single geographic market for the production of natural gas? If so, explain why. If not, what are the relevant geographic markets? Based on your geographic market definition(s) above, would you expec..
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