At .1 per pound, the variable cost per bag is $5. Let n be the number of bags at break-even. So Tota revenue is 10*n. Total costs are 80000+5*n. Break-even is 10*n = 80000 + 5*n -- use algebra and solve for n.
then potentially a lot of things. 1) The industry is perfectly competitive (or nearly so) 2) Implying that no single firm has a "large" market share. 3) Implying that each firm in the industry produces a product that is not distinguished (different) than any other fi...
How bout "from this group of 550+300+850=1700 students"?? Assumeing that you meant 1700 students, there are 400 from School A that took the bus. Ergo, P=400/1700 = 23.5%
I beg to differ. For a 20% increase in revenue to occur, people would need to purchase the same physical amounts of taxable goods and services they previously did and actually spend 1% more. This is unlikely because 1) with the effective higher prices, and a fixed budget const...
Lets start with the assumption that the firm, prior to the settlement, was operating at a profit-maximizing level; where Marginal Costs=Marginal Revenues. From the information, the firm must have some monopoly power. it sets a price above MC, and is operating in an elastic por...
Do a little research, then take a shot. What do you think? Hint: Be sure to understand import substitution policies vs export promotion policies. Hint2. How will foreign countries respond to such policies?
Do a little research, then take a shot. What do you think? Hint: simply understanding how a fixed exchange rate differs from a floating rate should answer most of your questions.
I dont understand why total fixed costs should ever be a major component to a calculation that should be made on the margin. The question is simple, does the expected additional revenues (MR) from the added sales force exceed the expected labor costs (MC) from the added force?...
Managerial Economics (bobpursely please help)
see my post above.
See my post above.
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