Example 2: Find out (i) P/V ratio, (ii) Fixed Cost (iii) Sales volume to earn a Profit of 745,000. From the data givenbelow:71,20,000730,00060%SalesProfitVariable Cost

Answered: Example 2: Find out (i) P/V ratio, (ii)…

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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Suppose demand is given by p = 1600 − x. Find the maximum revenue.
Describe the patterns in quantity sold and own and rival prices during this time period using basic descriptive statistics. Graphs are welcome as well. Take the logs of the variables, and estimate the demand function. Interpret the R-square. Interpret the coefficients for logP and logPsub Interpret the p-values associated with each independent variable Are consumers price sensitive? Why or why not? (be as precise as you can – you have estimates!). Does this price sensitivity make sense given the good we are examining? How sensitive are our consumers to changes in the rival good’s price? Explain in detail. Suppose we decide to charge a per ounce price of $2, while at the same time our rival charges a price of $2.15. All else equal, what would you expect sales to be? How confident are you in your forecast? Suppose we are charging a price of $2 and our current marginal cost is $1.50 Are we maximizing profits at this price? If not, should we raise or lower price? Why?
true or false? profit is cost-revenue
Describe a cost function for a business venture. What are the two kinds of costs that are modeled by this function?
Fixed Cost (FC) per month Variable Cost (VC) per unit Selling Price (S) Break-even Volume (x) Total Variable Cost at Break- per unit per month even (TVC) per month $8,800.00 $23.00 $37.00 629 $14,457.1 Total Revenue (TR) per month at Break-Even $23,257.1 $127,000.00 $470.00 1,060 $589.81 $498,200 $625,200. $730.00 $75.00 22 $30.00 $53.00 423 ☐
Price elasticity of demand (supply) or simply elasticity of demand (supply) measures the relative or percentage variation experienced by the quantity demanded (supplied) as a consequence of a change in the price of one percent (1%); In other words, it measures the intensity with which buyers (sellers) respond to a change in the priceprice. Elasticity is often used with respect to the price-demand relationship or the price-supply relationship, but the applicability of this concept is not restricted to that single case, but is broader, since the elasticity is calculated in percentages, since it is the only way to obtain a common unit of measure. When calculating the elasticity in arelationship, the units of measurement are maintained, therefore, they do not measure a proportional change, but a propensity, such as the well-known propensit to Keynesian consumption. The rate at which the selling price changes and from a product, with respect to its supply "x", is given by the following…
Using the image attatched please find: a. determine the total cost function b. determine the marginal cost function
Agnes, a General Manager in XXX Company, estimated a multiplicative demand function of the form: using a cross-section data collected in the company sales on 30th June, 2019. The estimation results are as follows: (SEE IMAGE) Write down the estimated demand equation Interpret the coefficients and R2 value Describe any three managerial decisions that can be applied by the manager from the estimated demand function
how do we estimate direct and indirect costs . explain in detail.
REAL CONSUMPTION (Billions of dollars) REAL CONSUMPTION (Billions of dollars) The following graphs show an economy's initial position at point A along its consumption function (C). Suppose tensions in the Middle East lead to a rapid increase in the price of oil, which raises the general price level. On the graph, shift either the consumption curve or the initial point on the consumption function to show the impact of a rise in the price level (Note: In the scenario where the curve shifts, only shift the curve and do not adjust the position of the point.) REAL DISPOSABLE INCOME (Billions of dollars) Now suppose that disposable income suddenly and unexpectedly decreases. A On the following graph, shift either the consumption curve or the initial point on the consumption function to show the impact of a fall in disposable income. (Note: In the scenario where the curve shifts, only shift the curve and do not adjust the position of the point.) REAL DISPOSABLE INCOME (Billions of dollars) C
Which ideas about functions do you think might be the most helpful to you in your day-to-day planning?

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Example 2: Find out (i) P/V ratio, (ii) Fixed Cost (iii) Sales volume to earn a Profit of 745,000. From the data given below: Sales 71,20,000 30,000 60% Profit Variable Cost