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- If raw material costs rise the average revenue curve will: A) remain in the same place. B) shift to the left.C) shift to the right. D) none of the above
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- Another factor that drives up a business' operating expenses is wages. Therefore, if the wage rate becomes high, All statements are correct it will translate to lower profit it will result to higher business income it will expand the ventureBusiness Unit A, the supplying business unit, is selling to an outside market. It has excess capacity and can use it to transfer product to the receiving business unit, Business Unit B. Business Unit A does not incur incremental fixed costs in the production of the units supplied to Business Unit B. The formula to calculate the transfer price in this scenario is:? a. (Total variable costs + incremental fixed cost) ÷ total units supplied b. (Total variable costs + Contribution margin lost) ÷ total units supplied c. (Total variable costs + incremental fixed costs + Contribution margin lost) ÷ total units supplied d. Total variable costs ÷ total units suppliedWhich of the following statements are true and which are false? i). Overhead costs normally include all costs that are not direct costs. j). Optimal volume (demand) occurs when total costs equal total revenues.
- 14.The demand function for a new product is p(x) = - 2x + 7 , where p is the selling price of the product and x is the number sold in thousands. The cost function is C(x) = x + 2 . a) Determine an equation for the profit, in standard form and in function notation. b) How many units must be sold for the company to break even?The fixed cost is $150, the variable cost per unit $5, and the demand function for a the product is P=-3Q+60. Find the equation of Total Profit function. * T = -3Q3 + 55Q – 150 TT = -Q2 + 55Q – 150 I = -3Q2 + 55Q – 150 а. b. с. d. None of the above. а. b. O d.Consider the following demand function P = 62 - 2Q and the Cost for the business is $150 (for initial capital required) plus $2 for each item made. (i) Determine the equation for the profit and find the optimum value. (ii) Is the profit increasing or decreasing on approach to the optimal value from the left? 000.05 mu em 10 (iii) Is the rate of change in the profit change itself (marginal rate) increasing or decreasing? (iv) Investigate the approach to the optimal value from the right.
- Habib Bank Limited estimates equation of demand of its product as: Q = 55 – 0.5P - (where P = price and Q = Quantity of output), and its total cost of production as TC = 20 + Q + 0.2Q2 Where TC = total cost and Q = Quantity of output) Write the equations of the firm’s costs, as a function of Q: Average Total Cost ATC? Average Variable Cost AVC? Average Fixed Cost AFC.? Marginal Cost MC? The output level that will maximize total profit and the amount of revenue and profit that Habib Bank would receive at optimal level of production.? The output level that minimizes average total cost.? please answer all questionsA company is planning to manufacture computer desks. The fixed cost will be $60,000 and it will cost $200 to produce each desk. Each desk will be sold for $450. a. Write the cost function, C, of producing x desks. b. Write the revenue function, R, from the sale of x desks. c. Determine the break-even point. Describe what this means.Question 5 Read Optimize DTC Profits and Full Cost. Discuss how the concepts of price elasticity of demand and production costs can help firms set their selling prices.
- Suppose your product sells for $1.20 per unit. The total cost of producing x units is C(x) = 50 + 0.20x + .001x^2 dollars. a.) Find the marginal revenue and marginal profit functions b.) Find the marginal profit when x = 400 c.) What is the approximate profit from selling the 401st unit? d.) Find the value of x for which the marginal profit is zero.Please select all that are true regarding Minimum Efficient Scale (MES): if the quantity demanded is equal to Qmes, then the lowest cost solution is for one firm to supply the market MES is the quantity produced where average costs for a firm are at a minimum Long run average costs include fixed cost steps as quantities (scale) increase Quantities (x-axis) less than MES exhibit decreasing returns to scale due to diminishing marginal returns Short run average cost curves are for a given level of fixed cost, individually MES is the quantity demanded where total costs for a firm are at a minimum Quantities (x-axis) greater than MES exhibit decreasing returns to scale due to diminishing marginal returns Average costs do not include fixed cost since they don't changeProduct A cost $8 and demand for product B is 12 units then product A is reduced in price to $5 and demand for product B falls to 2 units please use the correct midpoint formula to solve this