None Based on this model, households earn income whenpurchasein factor markets.Suppose Eleanor earns $550 per week working as a math tutor for A-Plus Tutoring. She uses $10 to take a yoga class at Big Bend. Big BenDarnell $400 per week to instruct yoga. Darnell uses $175 to purchase tutoring services from A-Plus Tutoring.Identify whether each of the following events in this scenario occurs in the factor market or the product market.EventDarnell spends $175 to purchase tutoring services from A-Plus Tutoring.Factor MarketProduct MarketEleanor earns $550 per week working for A-Plus Tutoring.Darnell earns $400 per week working for Big Bend.

Factor market: Events related to earning income through labor (such as working for A-Plus Tutoring…

Answered: Based on this model, households earn…

Excel Applications for Accounting Principles

4th Edition

ISBN:9781111581565

Author:Gaylord N. Smith

Publisher:Gaylord N. Smith

Chapter18: Cost-volume-profit Analysis (cvp)

Section: Chapter Questions

Problem 3R: Based on Poleskis current situation, will it earn its target net income? If not, how many units need...

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Lamphere Lawn Care provides lawn and gardening services. The price of the service is fixed at a flat rate for each service, and most costs of providing the service are the same, given the similarity in the lawns and lots. The owner budgets income by estimating two factors that fluctuate with the economy: the contribution margin associated with each service call and the number of customers who will request lawn service. Looking at next year, the owner develops the following estimates of contribution margin (price less variable cost of the service, including labor) and the estimated number of service calls. Although the owner understands that it is not strictly true, the owner assumes that the cost of fuel and the number of customers are Independent. Contribution Margin per Service Call Scenario Excellent Fair Poor (Price - Number of Variable cost) Service Calls $:30 20 12 10,450 8,000 5,700 In addition to the variable costs of service, the owner estimates that other costs are $51,000…
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Based on Poleskis current situation, will it earn its target net income? If not, how many units need to be sold to achieve the target? Explain.
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A clothing company has determined that if the price of a T-shirt is K40, then 150 will be demanded by T-shirt wearers. When the price is K45, then 100 T-shirts are demanded by T- shirts wearers.(a) Find the price-demand equation, assuming that it is linear.(b) Find the revenue function.(c) Find the number of items sold that will give the maximum revenue. What is the maximum revenue?(d) What is the price of each item when maximum revenue is achieved?
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