Bait, Diary Company produces milk and the following data presents the different levels of quantity it sells at different levels of price: If the price (Pi) = $5, then the quantity (Qt) = 10,000, while if the price (PP) = $6, the quantity (Q2) = 5,000. 1) Estimate the linear demand curve of Baity Company. 2) If MC = 15 and the price elasticity of demand =121, determine the optimal price of Baity Company
We need at least 10 more requests to produce the answer.
0 / 10 have requested this problem solution
The more requests, the faster the answer.
Bait, Diary Company produces milk and the following data presents the different levels of quantity it...
The Prestige Office Equipment Company produces and sells different types of office furniture. One of the important items it sells is a high quality desk. During the past year, Prestige sold 5,000 of these at a price of $500 each. The contribution profit for this line of furniture last year was $700,000. A consultant suggests that Prestige decrease the price of each desk by $30. In his opinion, another 500 desks could then be sold, and the profit would be...
2 and 4b please e Iheorem 13.2.1 to prove that it is a A firm produces two different kinds, A and B, of a commodity. The daily cost of producing Q its of A and Q2 units of B is C(Q1,02)-0.10 +0102 +Q. Suppose that the firm sells all its output at a price per unit of P1 120 for A and P290 for B. (a) Find the daily production levels that maximize profits. (b) If P2 remains unchanged at...
Jelly Welly Candy is a boutique company that produces and sells a distinctive kind of jellybeans with high quality, unusual flavors. Suppose Jelly Welly candies has a demand curve: P = 20 - .01Q, where Q denotes the pounds of Jelly Welly candies demanded per week at various prices per pound. (6 points) For price elasticity, identify the elastic range of demand, the unit elastic range of demand, and the inelastic range of demand for Jelly Welly. Include a graph...
Company AG produces and sells rocket parts. The company presents the following data related to its variable and fixed indirect costs. Both costs are allocated using machine hours of Laser cutter. Budgeted: -Variable Indirect Cost Rate $ 200.00 per hour -Indirect Fixed Cost Rate $ 240.00 per hour -Hours required per piece of rocket 1.5 hours -Units to produce and sell for 2018 5,000 pieces -Total Indirect Fixed Cost $ 1,800,000 Results for the year 2018: -Units produced and sold...
Question 2: An oil company produces three brands of oil: regular, multigrade, and supreme. Each brand of oil is composed of one or more of four crude stocks, each having a different lubrication index. The relevant data concerning the crude stocks are as follows. Crude Stock Lubrication Index Cost/Barrel Daily Supply (Barrels) 20 40 30 7.10 8.50 7.70 9.00 1000 1100 1200 1100 3 Each brand of oil must meet a minimum standard for a lubrication index, and each brand...
Before a company started selling a new digital camera, its marketing team surveyed consumers regarding whether or not they would consider buying the camera at different price levels. The table lists their estimates for the number of cameras that will sell at a particular price. (Let q represent the units sold in thousands.) Price Units sold (thousands) $125 51.7 $150 43.6 $175 37.9 $200 31.5 $225 26.3 (a) Use a graphing calculator to find an exponential model of the demand...
A soft-drink bottler collected the following monthly data on its sales (measured in thousand units) of 12-ounce cans at different prices. Month 1 2 3 4 5 6 7 8 9 10 11 12 Price $0.45 0.50 0.45 0.40 0.35 0.35 0.50 0.55 0.45 0.50 0.40 0.40 Quantity 98 80 95 123 163 168 82 68 96 77 130 125 (a) Using Excel run a linear regression with Quantity the dependent variable and price the independent...
Problem 17-44 (Algo) Sales Mix and Quantity Variances (LO 17-4)Lake Cellars produces and sells white wine. The following data concern the three varietals of white wine the company currently offers. Sales data for August are given as follows. Sauvignon BlancChardonnayRieslingTotalBudgeted selling price$9.70$11.20$7.70Budgeted variable cost$7.15$8.45$6.05Budgeted selling quantity19,3007,30011,20037,800Actual selling price$9.90$7.30$8.30Actual variable cost$6.45$8.70$6.10Actual selling quantity20,9007,50011,00039,400 Required:a. Compute the sales price variance for all three wines. b. Compute the activity variance for Lake Cellars for August.c. Compute the mix and quantity variances for Lake Cellars for August.
Table Manufacturing Company produces one style of tables. the following data pertain to producing one table Planned production/month ? units (one table) 50 Piece of woods (M) 20 Estimated M price $20 Actual production ? Quantity purchased (QP) from M 19 Actual price (AP) $21 Material price variance? ? $19, Favorable $19, Unfavorable $20, Favorable $20, Unfavorable Given for XM Company the following data for January 20X1. Direct material purchased and used in production accounted for $100,000 Units purchased 10,000...
The following annual per unit cost data at an activity level of 10,000 units has been provided below. The company produces and sells only one product: $ per unit Sales. 150.00 Direct labor. 15.00 Direct material. 18.00 Variable manufacturing Overhead. 7.50 Fixed manufacturing Overhead. 50.00 Variable selling expenses. 1.50 Fixed selling expenses. 40 Fixed administrative Expenses. 15 The relevant range is 8000-13000 units. You will be given facts for three different options. Using the facts given, calculate amounts as directed...