5. What is the Demand Function? 6. What is the Supply Function? 7. What is the Equilibrium Point?

ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
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III. PROBLEM SOLVING:
Lino Batumbakal is now exploring the option to start selling beef wellington. He is
trying to find out how many must he sell in order to start earning money. From an initial
feasibility study, he will incur a total of 200,000 pesos for equipments and other fixed
expenses. He is planning to sell the wellington at 500 pesos for each incurring direct
expenses of 150,000 pesos in the production.
According to Lino Bataumbakal's feasibility study, should he start selling the beef
wellington, he will have the following data:
Price
500
2,100
12
10
6. What is the Supply Function?
7. What is the Equilibrium Point?
Q
4
6
1. What will be the TOTAL COST EQUATION?
2. How many units must he sell in order to break even?
3. How much should be her revenue to earn a profit worth 100,000 pesos?
4. If Lino would like a Net Profit of 300,000 pesos, how many units should he sell?
5. What is the Demand Function?.
ANSWER
567
Transcribed Image Text:III. PROBLEM SOLVING: Lino Batumbakal is now exploring the option to start selling beef wellington. He is trying to find out how many must he sell in order to start earning money. From an initial feasibility study, he will incur a total of 200,000 pesos for equipments and other fixed expenses. He is planning to sell the wellington at 500 pesos for each incurring direct expenses of 150,000 pesos in the production. According to Lino Bataumbakal's feasibility study, should he start selling the beef wellington, he will have the following data: Price 500 2,100 12 10 6. What is the Supply Function? 7. What is the Equilibrium Point? Q 4 6 1. What will be the TOTAL COST EQUATION? 2. How many units must he sell in order to break even? 3. How much should be her revenue to earn a profit worth 100,000 pesos? 4. If Lino would like a Net Profit of 300,000 pesos, how many units should he sell? 5. What is the Demand Function?. ANSWER 567
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