I just need help with parts B and C, I know those answers are correct but have no clue how to do them. Please show step by step! Thank you!:)
A) Assume the following:
Number of college students in the market: 25,000
Average number of copies per student per year 125
Your company’s estimated share of the total market 13%
Total annual market demand 3,125,000
Estimated annual company demand 406,250
Estimated monthly demand 33,854
Estimated weekly demand 7,813
Given the following for your copy business:
Annual Expenses:
VC Paper: $ 4,062.50 FC Salaries: $ 30,000
FC Rent: $ 12,000 VC Hourly labor: $ 62,400
FC Insurance: $ 2,500 FC Maintenance contract $ 2,000
FC Advertising: $ 1,800 FC Utilities: $ 2,400
VC Other Supplies: $ 5,000
Total Fixed Cost: $ 50,700 Total Variable Cost: $71,462.50.
Fixed Cost/unit: 50700/406250= $ .12 Variable Cost/unit: 71462.5/406250=$ .175 or $ .18
B.) Assume you lower the price from $.30 to $.24 per copy and you demand increases to10,812
copies weekly. Determine the elasticity of your demand. What can you infer about your
market? 1.91, Elastic
C) Assume you raise the price from $.30 to $.45 per copy and your demand decreases by 1000
copies weekly. Determine the elasticity of your demand. What can you infer about your
market? .25, Inelastic
I just need help with parts B and C, I know those answers are correct but...
All of the answers are correct, I just need to see how to do parts C-H, please show step by step! THANK YOU! I'll be sure to thumbs up!:) A) Assume the following: Number of college students in the market: 25,000 Average number of copies per student per year 125 Your company’s estimated share of the total market 13% SOLVE FOR THE FOLLOWING: Total annual market demand 3,125,000 Estimated annual company demand 406,250 Estimated monthly demand 33,854 Estimated weekly demand 7,813 B) Given the following for your copy business:...
i just need to know part C, regarding total cost, where did the .18 come from? the answers in the paper are correct 4. Suppose you own a copy business that targets college students. A) Assume the following Number of college students in the market: Average number of copies per student per year Your company's estimated share of the total market 25,000 125 13% SOLVE FOR THE FOLLOWING: Total annual market demand 25,000x12.5 = 3,129,000 Estimated annual company demand 3,125,000...
pls help wirh parts c, d, e, f, g, h and with monthly revenue! in a time crunch! pls show all the work without excel! i'll be sure to thumbs up thank you in advance!!:) mes New... 14 v AA Аа у PO I U ab X X ALA Paragraph Styles Dicta 1. You own a Jeans manufacturing business. A) Assume the following: Number of consumers in the market: 1,720,300 Average number of jeans purchased per Consumers per year Company's...
Need help, YOU DONT HAVE TO DO A OR B. I understand those. Its mainly D through G that I have trouble with. Feel free just to do those. Suppose you are collecting data from a country like Japan where the government sets the price of health care. Each prefecture in Japan has a different set of prices (for example, Tokyo has higher prices than rural Hokkaido). Data for 1999 is displayed in Table 2.12 11 Table 2.12. Outpatient utilization...
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I have mostly completed this question. Need help on whether or not my work is correct, and help on blank ones 11. Suppose you are collecting data from a country like Japan where the government sets the price of health care. Each prefecture in Japan has a different set of prices (for example,Tokyo has higher prices than rural Hokkaido).Data for 1999 is displayed in Table 2.12.) a. What is the arc price elasticity of demand for health care consumers in...
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