Calculate total revenue-marginal revenue-marginal cost, Cost Accounting

Assignment Help:

In the beach city of Santa Barbara, California, there are seven bathing suit stores, each with the same schedule of costs and each facing an identical demand curve. Swim N Style is a typical store:

                                       Suits sold
                                       (per hour)           Price           Total Cost

                                                1                    $68                  $70

                                                2                      66                    80

                                                3                      64                    85

                                                4                      62                    90

                                                5                      60                  100

                                                6                      58                  115

                                                7                      56                  136

                                                8                      54                  164

                                                9                      52                  200

                                              10                      50                  245

a)   Calculate total revenue, marginal revenue, marginal cost and average cost at each level of sales for the store.

b)   If Swim N Style is a profit maximizer, what number of suits will it sell per hour? What will its price and profit be?


Related Discussions:- Calculate total revenue-marginal revenue-marginal cost

Assignment, What is the major value of the weighted cost of capital calcula...

What is the major value of the weighted cost of capital calculation for the firm?

Calculate the profit maximizing quantity , Draw the relevant diagrams for a...

Draw the relevant diagrams for a typical farm, and for the market as a whole, when the market for wheat is in long run equilibrium. Assume the farm faces perfect completion. (hint,

Allocation of overhead costs, Allocation of Overhead Costs Allocation ...

Allocation of Overhead Costs Allocation of overheads is the term utilized where the overhead cost item can be charged to a exact cost center without the requirement for any es

Prepare a preliminary cost benefit analysis, Managers need financial inform...

Managers need financial information to help them make decisions, communicate important information about their organization, and demonstrate fiscal responsibility to stakeholders.

MARGINAL AND ABSORPTION COSTING, MARGINAL COSTING IS PREFERRED TO ABSORPTIO...

MARGINAL COSTING IS PREFERRED TO ABSORPTION COSTING IN DECISION MAKING WHY

Receivables, In most situations this will be essential to grant credit to c...

In most situations this will be essential to grant credit to customers. It may be essential either due to competition or because of the custom of trade. Though, when we grant credi

Prepare a schedule of cost of goods manufactured, The Pacific Manufacturing...

The Pacific Manufacturing Company operates a job-order costing system and applies overhead cost to jobs on the basis of direct labor cost. Its predetermined overhead rate was based

Measuring performance in organization, list and discus the problem encounte...

list and discus the problem encountered in adopting profit as a yardstick in measuring performance

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd