-09 k You just got closed out of an economics course you need to graduate and need to persuade the department chair to open another section. She tells you that the school will have to pay a part-time instructor $3,000 to teach the course, and that there will be an additional $50 in administrative costs per student to run the course. If tuition is $400 for the course, how many students would you need to sign up for the course to run? Students:

-09 k You just got closed out of an economics course you need to graduate and need to persuade the department chair to open another section. She tells you that the school will have to pay a part-time instructor $3,000 to teach the course, and that there will be an additional $50 in administrative costs per student to run the course. If tuition is $400 for the course, how many students would you need to sign up for the course to run? Students:

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

See similar textbooks

Similar questions

Subject : Engineering Economics Please write handwritten Answer
Consider an airline's decision about whether to cancel a particular flight that hasn't sold out. The following table provides data on the total cost of operating a 100-seat plane for various numbers of passengers. Total Cost Number of Passengers (Dollars per flight) 40,000 10 60,000 20 65,000 30 68,000 40 70,000 50 71,000 60 72,500 70 73,500 80 74,000 90 74,300 100 74,500 Given the information presented in the previous table, the fixed cost to operate this flight is s At each ticket price, a different number of consumers will be willing to purchase tickets for this flight. Assume that the price of a flight is fixed for the duration of ticket sales. Use the previous table as well as the following demand schedule to complete the questions that follow. Price Quantity Demanded (Dollars per ticket) (Tickets per flight) 1,000 700 30 400 90 200 100
1-18 Katherine D’Ann is planning to finance her college education by selling programs at the football games for State University. There is a fixed cost of $400 for printing these programs, and the variable cost is $3. There is also a $1,000 fee that is paid to the university for the right to sell these programs. If Katherine was able to sell programs for $5 each, how many would she have to sell in order to break even?
What is the relationship between marginal cost (MC) curves and average cost (AC) curves? You may use a graph help you illustrate whenever necessary.
please help
Quality solution for better ratings please
please solve it on a paper
Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.
Problem 1 Your firm has determined they use the following production function: q = E°K Assume the current wage rate (w) is $400, the rental rate of capital (r) is $100, and your selling price is $10. (a) If capital is fixed at 5 units, what is your optimal number of employees? (b) What is your profit at this production level? (c) Now, assume you are in the long-run and have signed a contract to produce 250,000 units. How much capital and labor will you use now? Round to the nearest whole number. (d) What is your profit at this production level?
"A taxi company currently has nine cabs in its fleet, and its total daily cost is $4,000. If the company added a 10th cab, its daily total cost would be $4,200, or $420 per cab. Adding the 10th cab will increase the daily total revenue by $300. Should the company add the 10th cab? (Yes/No)"
3.) Assume that the following has a linear cost function. Fixed Cost Marginal Cost per item Item Sells For $250 $17 $26 Find the following. (a) the cost function (b) the revenue function (c) the profit function (d) the profit on 97 items