13. Bibbins Manufacturing produces softball and baseballs for youth recreation leagues.Each softball costs $11 to produce and sells for S17 while each baseball costs $10.50and sells for $15. The material and labor required to produce each item is listed herealong with the availability of each resource.Amount Required PerAmountResourceSoftballBaseballAvailableLeatherNylonCore5 oz6 yds4 oz2.5 min1 min6,000 oz5,400 yds4,000 oz3,500 min1,500 min4 oz3 yds2 ozLabor2 minStitching1 mina. Formulate an LP model for this problem.b. Sketch the feasible region.c. What is the optimal solution?

Answered: Image /qna-images/answer/ebdb74a1-85d9-4381-ae26-cae623a8ebd4.jpg

Answered: Brbbins Manufacturing produces softball…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Write a word or term that governs the following 1. are benefits given to the firm that originate from outside the firm. 2. exist when costs fall with larger size firm for technical and engineering reasons. 3. result from the way that larger firms can employ specialized workers.
A cost that changes with the level of production is called a(n)____cost a.variable b.average total c.marginal b.fixed
es Output 6 1 2 3 4 5 S 6 17 8 9 Total Cost $ 2,500 3,416 4,040 4.480 4,900 5,220 5,540 6,310 7,328 9,718 2500 Total Variable Cost b. What is the value of total fixed cost? 6 units $ 0 units 910 1540 1980 2400 2720 3040 3810 4820 7210 Marginal Cost c. What is the most productive level of output? $ 910 630 440 420 320 320 770 1010 2390 Average Total Cost $ d. At what output is economic capacity? Output: e. If TFC doubled, what is the marginal cost of the 7th unit? 3410 2020 1493.33 1225 1044 923.33 901.42 915 1078.89 Average Variable Cost $ 910 770 660 600 544 506.67 544 29 6025 801.11 Average Fixed Cost 2500 1250 833.33 625 500 416.67 35713 312.5 27778
1. Mr. Jack is in the process of expanding his manufacturing business. He decided to open a plant in the coming year. He has four locations in mind. The costs information for these locations is in the following table.Locations A B C DFixed Costs 60,000 80,000 100,000 130,000Variable Costs/unit30 20 15 10 i. Write an equation to represent the total costs for each location.ii. Draw the total costs lines for each location on the same axes. (Use output ranges of 2000, 4000, 6000, 8000 etc. and intervals of $50,000 on the Y axis.iii. Over what range of output is location A the most preferred location?iv. Over what range of output is location B the most preferred location?v. Over what range of output is location C the most preferred location?
Costs and Profit Maximization: Work It Out 1 Suppose Margie decides to lease a photocopier and open up a black-and-white photocopying service in her dorm room for use by faculty and students. Her total cost, as a function of the number of copies she produces per month, is given in the table. Number of Photocopies Per Month Total Cost Fixed Cost Variable Cost Total Revenue Profit 0 $100 1,000 $110 2,000 $125 3,000 $145 4,000 $175 5,000 $215 6,000 $285 a. Fill in the missing numbers in the table, assuming that Margie can charge 6 cents per black-and-white copy. Margie's fixed cost is: $ Variable cost, 0 photocopies/month: $ Variable cost, 1,000 photocopies/month: $ Variable cost, 2,000 photocopies/month: $ Variable cost, 3,000 photocopies/month: $ Variable cost, 4,000 photocopies/month: $…
PRICE (Dollars per room) 500 450 400 350 300 250 200 150 100 50 0 0 Demand + 50 100 150 200 250 300 350 400 450 500 QUANTITY (Hotel rooms) Graph Input Tool Market for Oceans's Hotel Rooms Price (Dollars per room) Quantity Demanded (Hotel rooms per night) Demand Factors Average Income (Thousands of dollars) Airfare from DSM to ACY (Dollars per roundtrip) Room Rate at Meadows (Dollars per night) 300 200 40 200 rooms per night to ,hotel rooms at the Oceans and hotel rooms at the Meadows are 200 For each of the following scenarios, begin by assuming that all demand factors are set to their original values and Oceans is charging $300 per room per night. If average household income increases by 50%, from $40,000 to $60,000 per year, the quantity of rooms demanded at the Oceans rooms per night to rooms per night. Therefore, the income elasticity of demand is Oceans are ? from meaning that hotel rooms at the If the price of a room at the Meadows were to decrease by 20%, from $200 to $160,…
A police department wants to allocate the indirect cost of speed monitoring to the three toll roads around the city. An allocation basis that may notbe reasonable is:a. miles of toll road monitored.b. average number of cars patrolling per hour.c. amount of car traffic per section of toll road.d. cost to operate a patrol car.
Hamza is a young and energetic production manager of a software production firm. With his hard work, he maximized the monthly profit to Rs 750000 while carefully keeping the price of software as Rs 2250. He utilized the resources in such a dynamic way that firm achieved total product of 225 softwares per month. What total cost was incurred on this production?
Q 0 1 3 5 7 9 11 15 17 Total Cost (TC) 1350 3200 4800 6900 9100 12350 18650 Total Fixed Cost (TFC) Total Variable Cost (TVC) 500 Average Total Cost (AC) 700 2. Plot the TC, TFC and TVC curves on a single diagram on another. cost of mountain bike production. Average Variable Cost (AVC) Average Fixed Cost (AFC) 200 220 Marginal Cost (MC) and plot the AC, AFC, AVC and MC curves
Calculate and plot the following: No of units Total cost 0 2 1 9 2 12 3 15 4 20 5 30 6 42 Variable cost Fixed cost Average fixed cost Average variable cost Marginal cost

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