Beverly has 15 tax accountants on her staff. During the months of February, March, and April, her staff is overworked and she may even hire more employees to meet the tax preparation needs of her clients. Beverly is not currently experiencing being used. - in fact, all of her employees and equipment are fully Multiple Choice A. off-peak pricing B. idle production capacity C static demand D. capacity marketing E. capacity inventory
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- You have the following data for product X: sales revenue $14,000, allocated fixed costs $12,000, variable costs $20,000. You cannot increase the price of product X or improve the production process to increase profitability. What should you do about product X? O do nothing - unprofitable products are just one of the costs of doing business O keep the product both in the short term and in the long term O keep the product in the short term and drop it in the long term drop the product both in the short term and in the long term O drop the product in the short term and keep it in the long termA local company is planning to manufacture and market a four-slice toaster. For this toaster, the research department’s estimates are aweekly demand of 300 toasters at a price of $25 per toaster and a weekly demand of 400 toasters at a price of $20. The financial department’s estimates are fixed weekly costs of$5,000 and variable costs of $5 per toaster. a) Assume that the relationship between price ? and demand ? is linear. Use the research department’s estimates to express ? as a function of ? and determine the domain of the function. b) Using your knowledge from Finite Math, determine the Revenue function in terms of ?. c) Determine the Marginal Revenue at 2 different production levels for example 250 and 500 units. Interpret these results. (HINT: Consider what a positive or negative first derivative implies) d) Assume that the cost function is linear. Use the financial department’s estimates to express the cost function interms of ?. e) Determinethe Marginal costand interpret the…Beveriy has 15 tax accountants on her staff. During the months of February, March, and April, her staff is overworked and she may even hire more employees to meet the tax preparation needs of her clients. Beverly is not currently experiencing being used. - in fact, all of her employees and equipment are fully Multiple Choice A. off-peak pricing B. idle production capacity C.static demand D. capacity marketing E. capacity inventory
- Jeremy worked at a bank with a monthly salary of $1,500. He decided to quit his job and open a bookstore inhis neighborhood. He now pays $500 in rent, $80 in utilities and $120 in wages every month. He also paysthe publisher $5 per book sold. This month Jeremy sold 100 books at the price of $30 per book.a. What was the total revenue this month? Calculate this month’s explicit fixed cost, the variable costand the total cost.b. How much accounting profit did Jeremy make?c. How much economic profit did Jeremy make?d. If Jeremy had not quit his job at the bank, he could have been promoted and got a pay raise of 30percent. How would this affect his accounting profit and his economic profit?please sir please solve these questions 29-an addition made to the TC or TVC as output is increased by one more units is called: A- AVC B- ATC C- MC D- AC 30- cost function are derived from : A- Supply function B- None of these C- Demand function D- Production function 31-MP for nth unit is equal to: A- TPn-TPn+1 B- APn-Apn-1 C- TPn-TPn-1 D- TPn-TPn-1A manufacturer of hospital supplies has a uniform annual demand for 180,000 boxes of bandages. It costs $20 to store one box of bandages for one year and $500 to set up the plant for production. How many times a year should the company produce boxes of bandages in order to minimize the total storage and setup costs? The company should produce boxes of bandages time(s) a year. you ge.. Next R. RAZER
- Gains from Trade - End of Chapter Problem Between 2016 and 2017, Nintendo produced 2.3 million NES Classic Edition mini consoles that sold out almost immediately as they arrived at stores. The retail price of the mini console was $59.99. However, if you were to check eBay at the time, you would see that people were buying the units for $250 each from scalpers. a. The price of $250 tells scalpers O they should continue to buy the console at the store and resell it on eBay for a higher price. they should keep the consoles they have already purchased and hang onto to them, as they will be considered antiques someday. they should no longer buy and resell the consoles because the price on eBay is too high to make a profit. b. Upon observing that the only way to obtain the gaming console is to buy it on eBay for $250, a consumer might do which of the following? Select all that apply. Consider buying another type of gaming console that is cheaper. Approach a family member about sharing the…8. siuppose that the manager of a firm operating in a competitive market has estimated the firm's average variable cost function to be: AVC= 18-0.3Q Total fixed cost is $60 and the forecasted price of the firm's product is $12. 79 a. What is the corresponding marginal cost function? b. At what output is AVC at its minimum? C. How much outputs should the firm produce? d. How much profit or loss will the firm earn?,Question 9 Which scheduling method would be inappropriate for the product named? spring-blooming bulbs - continuous soft drinks - pulsing snow blower - flighting Christmas cards flighting accounting services- flighting
- 4. COST RELATIONSHIPS. A firm's total costs can be broken down into fixed costs (e.g., rent) and variable costs (e.g., payroll), so TC = FC + VC. Dividing by quantity converts these to averages, so TC/Q = FC/Q + VC/Q, or ATC = AFC + AVC. The additional cost incurred by producing one additional unit is the marginal cost, so MC = ATC/AQ, where the Greek letter delta (A) means "a change in." Here is a table showing the various costs for a simple firm that sells a product using a building (capital, a fixed input) and workers (labor, a variable input). Assume that the price of labor is 20 and the price of capital is 120. Use these three cost relationships to complete the table. Total Total Average Variable Cost, Сapital, Output, Q Labor, Total Average Fixed Average Total Cost, Marginal Cost, MC Variable K Fixed Cost, TC Cost, Cost, TFC Cost, TVC AVC AFC АТС 1 120 N/A N/A N/A N/A 1 2 1 160 3 1 20 3 6. 1 40Which of the following statements is FALSE? OA A process costing system would be used by manufacturers of commodities, such as flour or sugar. OB A job order costing system would be used by manufacturers of custom made products OC. Aprint and copy shop would likely use a process costing system OD. A service firm would likely use a job order costing systemThe tapie pelow Cotains pricerdemand and total cOSt data Tor the production of treadmilis, where p is the wholesale price (in dollars) of a treadmill for an annual demand of x treadmills, and C is the total cost (in dollars) of producing x treadmills. p ($) C ($) 2,910 1,450 3,634,000 3,415 1,275 3,782,000 4,645 1,123 4,185,000 5,330 918 4,290,000 Use this data to find a linear regression equation for price-demand data, using x as the independent variable: p= ax + b, where a is rounded to 1 decimal place and 6 is rounded to the nearest integer. Use this data to find a linear regression model for the cost data, using x as the independent variable: C(x) = cx + d, where c is rounded to the nearest integer and d is.rounded to the nearest 10,000. To Do Notifications Dashboard Calendar