a. What is the MRP? What is the MRC? MRP = $ %3D MRC = $ Should the firm add this delivery vehicle: (Click to select) b. Now suppose that the cost of renting a vehicle doubles to $500 per day. What are the MRP and MRC? MRP = $ %3D MRC = $ %3! Should the firm add a delivery vehicle under these circumstances: (Click to select)*

a. What is the MRP? What is the MRC? MRP = $ %3D MRC = $ Should the firm add this delivery vehicle: (Click to select) b. Now suppose that the cost of renting a vehicle doubles to $500 per day. What are the MRP and MRC? MRP = $ %3D MRC = $ %3! Should the firm add a delivery vehicle under these circumstances: (Click to select)*

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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#3
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Solve this question step by step and proper way and correct answer......
Choices for a.) are -approximately $15 - approximately $6 -approximately $9
I got the graph correct, but what am I doing wrong to get the two equ
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3. Mr. Willy is determined to raise his revenue of selling blankets in the market. He is contemplating whether to raise the price of his product or not. He noticed that as he lowered the price from P300 to P200, his sales rose from 300 pieces to 550 pieces of blankets per day. If you are the consultant of Mr. Willy, what would you advise him to raise his revenue and profit? Explain your answer briefly and concisely. (Note: computation is required to justify your answer for this question) Hint: Use the concept of elasticity to answer this question.
Cost (dollars) 150 100 50 0 5 10 D $15 20 B Output (teapots per day) 5. Refer to Figure above. Which one of the following statements are [TRUE/FALSE]? 0 A. The vertical gap between curves B and C is equal to average variable cost. [TRUE/FALSE] 0 B. Average fixed cost decreases with output. [TRUE/FALSE] 0 C. Line B comes closer to line C as output increases because of a decrease in average fixed cost. [TRUE/FALSE] D. The vertical gap between curves B and C is equal to average fixed cost. [TRUE/FALSE] 0 E. Curve D is the marginal cost curve. [TRUE/FALSE]
Please provide a correct answer the problem. Attached is the image of the question. Thank you!
1. Use the following data to answer the questions below about actual food and beverages costs for the Marina Bay Grill for July: Ending Inventory (Food) $68,000 Ending Inventory (Beverage) $23,470 Food Purchases $350.000 Beverage Purchases $24,700 Beginning Inventory (Food) $72,000 Beginning Inventory (Beverage) $19,700 Transfers to Bar $3,870 Beverage Theft/Pilferage $510 Food Over-Portioning Expense $615 Transfers from Bar $4,100 Complementary Food $2,160 Complementary Beverages $890 Employee Meal Cost $11,225 Food Revenues $878,000 Beverage Revenues $116,500 What is the net cost of sales for food and beverage? Indicate dollar and percentage cost. Food: $354,000 Beverages: $20,930 $994,500 total food and beverage sales 878,000/994,500 x 100 = 88% = percentage of sales(food)
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