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QUESTION 4 The term variable costs refers to O prices of inputs that vary a lot...
QUESTION 4 The term variable costs refers to O prices of inputs that vary a lot increases in the prices of any input costs that vary with the type of final product being produced costs that vary with the quantity of output being produced QUESTION 5 If a firm's marginal cost exceeds its marginal revenue, then O profit is negative the firm should shut down cutting back production will increase profits the firm should reduce its per-unit cost by increasing...
question 4: a, b, c Suggested Readings - 167 3. What is the special meaning of...
question 4: a, b, c
Suggested Readings - 167 3. What is the special meaning of each type of cost (TVC, TFC, TC, AVC, AFC, ATC, and MC)? 4. Suppose you are the operator of a firm with the following short-run schedule of output and total cost: Output Total Cost 1000 2000 3000 4000 5000 6000 $10,000 15,000 25,000 40,000 60,000 90,000 130,000 a. What is your firm's total fixed cost? total variable costs? average variable costs? average total costs?...
Question The management of Company "A" feels that if the price of Product X is decreased...
Question The management of Company "A" feels that if the price of Product X is decreased from $40 per unit to $36 per unit, unit sales will increase from the current level of 13,000 per year to 20,000 units per year. The variable cost of Product X will decrease from $24 per unit to $20 per unit due to additional discounts offered by suppliers. Unfortunately though the fixed costs will increase from the current $100,000 to $170,000, if the sales...
Please help and explain how to do this question Bad Company has a new 4-year project...
Please help and explain how to do this question
Bad Company has a new 4-year project that will have annual sales of 8,500 units. The price per unit is $20.00 and the variable cost per unit is $7.75. The project will require fixed assets of $95,000, which will be depreciated on a 3-year MACRS schedule. The annual depreciation percentages are 33.33 percent, 44.45 percent, 14.81 percent, and 7.41 percent, respectively. Fixed costs are $35,000 per year and the tax rate...
Question 4 View Policies Current Attempt in Progress Midlands Inc. had a bad year in 2019....
Question 4 View Policies Current Attempt in Progress Midlands Inc. had a bad year in 2019. For the first time in its history, it operated at a loss. The company's income statement showed the following results from selling 80,000 units of product: net sales $2,000,000, total costs and expenses $2.210,000; and net loss $210,000. Costs and expenses consisted of the following Total Variable Fixed Cost of goods sold Selling experses Administrative expenses $1,542,000 $1,051,000 $491,000 522,000 99,000 429.000 146,000 56,000...
Question 11 Economic profit equals total revenue minus total costs including explicit fixed costs, explicit variable...
Question 11 Economic profit equals total revenue minus total costs including explicit fixed costs, explicit variable costs, implicit fixed costs, and implicit variable costs. True False Question 12 4 pt If Economic profit equals zero, then the firm should shut down in the short run and go out of business in the long run. True e False The period of time long enough to allow a firm to vary all of its inputs, to adopt new technology, and to increase...
Question 4: Novotel Lotus provides catered meals, and the catered meals industry is perfectly competitive. Novotel...
Question 4: Novotel Lotus provides catered meals, and the catered meals industry is perfectly competitive. Novotel Lotus machinery costs $100 per day and is the only fixed input. The firm's variable cost consists of the wages paid to the cooks and the food ingredients. The variable cost per day associated with each level of output is given in the accompanying table. Quantity of meals VC TC MC AVC ATC $200 $300 $480 $700 $1000 4.1. Calculate the total cost, the...
8 of 9 QUESTION 4 [TOTAL MARKS: 25 Marks (a) Basic Lad sells Product X for...
8 of 9 QUESTION 4 [TOTAL MARKS: 25 Marks (a) Basic Lad sells Product X for €30 each. Total unit variable costs are €15. Fixed costs for the company are €250,000. Target profit for the period is €25.000 Calculate the following for the company using appropriate formula (show all working 1. Breakeven point in units 2. Breakeven point in value 3. Sales in units to achieve the expected target profit 4. Sales in value to achieve an expected target profit...
Please help with question 6. please answer question in table format. thanks for your help. below...
Please help with question 6. please answer question in
table format. thanks for your help. below this text is info you
might need from previous questions. Thanks again.
Also please answer question 7 yes or no.
Thank you
6. Next calculate marginal revenue, knowing that it is the difference between the revenue at the price shown and the revenue at 1/400 of a cent less. Calculate 1/400 of a cent as well as the new price. 100 101 102...
Worksheet on Perfect Competition Welcome to Acme Widgets. The Acme Company manufactures widgets and competes in...
Worksheet on Perfect Competition Welcome to Acme Widgets. The Acme Company manufactures widgets and competes in a Perfectly Competitive market structure. In fact, all widgets are the same, regardless of who made them. The widget industry is huge, with many firms, and Acme, like all the other firms can sell all it wants without affecting the market price. The following table represents the current short-run revenue, costs, and profits for Acme or copy the data into a spreadsheet INSTRUCTIONS: You...
QUESTION 4 The term variable costs refers to O prices of inputs that vary a lot increases in the prices of any input costs that vary with the type of final product being produced costs that vary with the quantity of output being produced QUESTION 5 If a firm's marginal cost exceeds its marginal revenue, then O profit is negative the firm should shut down cutting back production will increase profits the firm should reduce its per-unit cost by increasing...
question 4: a, b, c
Suggested Readings - 167 3. What is the special meaning of each type of cost (TVC, TFC, TC, AVC, AFC, ATC, and MC)? 4. Suppose you are the operator of a firm with the following short-run schedule of output and total cost: Output Total Cost 1000 2000 3000 4000 5000 6000 $10,000 15,000 25,000 40,000 60,000 90,000 130,000 a. What is your firm's total fixed cost? total variable costs? average variable costs? average total costs?...
Question The management of Company "A" feels that if the price of Product X is decreased from $40 per unit to $36 per unit, unit sales will increase from the current level of 13,000 per year to 20,000 units per year. The variable cost of Product X will decrease from $24 per unit to $20 per unit due to additional discounts offered by suppliers. Unfortunately though the fixed costs will increase from the current $100,000 to $170,000, if the sales...
Please help and explain how to do this question
Bad Company has a new 4-year project that will have annual sales of 8,500 units. The price per unit is $20.00 and the variable cost per unit is $7.75. The project will require fixed assets of $95,000, which will be depreciated on a 3-year MACRS schedule. The annual depreciation percentages are 33.33 percent, 44.45 percent, 14.81 percent, and 7.41 percent, respectively. Fixed costs are $35,000 per year and the tax rate...
Question 4 View Policies Current Attempt in Progress Midlands Inc. had a bad year in 2019. For the first time in its history, it operated at a loss. The company's income statement showed the following results from selling 80,000 units of product: net sales $2,000,000, total costs and expenses $2.210,000; and net loss $210,000. Costs and expenses consisted of the following Total Variable Fixed Cost of goods sold Selling experses Administrative expenses $1,542,000 $1,051,000 $491,000 522,000 99,000 429.000 146,000 56,000...
Question 11 Economic profit equals total revenue minus total costs including explicit fixed costs, explicit variable costs, implicit fixed costs, and implicit variable costs. True False Question 12 4 pt If Economic profit equals zero, then the firm should shut down in the short run and go out of business in the long run. True e False The period of time long enough to allow a firm to vary all of its inputs, to adopt new technology, and to increase...
Question 4: Novotel Lotus provides catered meals, and the catered meals industry is perfectly competitive. Novotel Lotus machinery costs $100 per day and is the only fixed input. The firm's variable cost consists of the wages paid to the cooks and the food ingredients. The variable cost per day associated with each level of output is given in the accompanying table. Quantity of meals VC TC MC AVC ATC $200 $300 $480 $700 $1000 4.1. Calculate the total cost, the...
8 of 9 QUESTION 4 [TOTAL MARKS: 25 Marks (a) Basic Lad sells Product X for €30 each. Total unit variable costs are €15. Fixed costs for the company are €250,000. Target profit for the period is €25.000 Calculate the following for the company using appropriate formula (show all working 1. Breakeven point in units 2. Breakeven point in value 3. Sales in units to achieve the expected target profit 4. Sales in value to achieve an expected target profit...
Please help with question 6. please answer question in
table format. thanks for your help. below this text is info you
might need from previous questions. Thanks again.
Also please answer question 7 yes or no.
Thank you
6. Next calculate marginal revenue, knowing that it is the difference between the revenue at the price shown and the revenue at 1/400 of a cent less. Calculate 1/400 of a cent as well as the new price. 100 101 102...
Worksheet on Perfect Competition Welcome to Acme Widgets. The Acme Company manufactures widgets and competes in a Perfectly Competitive market structure. In fact, all widgets are the same, regardless of who made them. The widget industry is huge, with many firms, and Acme, like all the other firms can sell all it wants without affecting the market price. The following table represents the current short-run revenue, costs, and profits for Acme or copy the data into a spreadsheet INSTRUCTIONS: You...
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