Marginal Profit Yaster Breakfast Supplies is planning to manufacture and market a new toaster. After conducting extensive market surveys, the research department provides the following estimates: • a weekly demand of 301 at a price of $13 per toaster • a weekly demand of 192 at a price of $16 per toaster The financial department estimates that weekly fixed costs will be $1,393 and variable costs (cost per unit) will be $4. Assume: • the relationship between price and demand is linear • the cost function in linear Use your models to predict the marginal profit when Yaster is producing and selling 270 toasters per week. Round to the nearest cent. $_ per toaster

Marginal Profit Yaster Breakfast Supplies is planning to manufacture and market a new toaster. After conducting extensive market surveys, the research department provides the following estimates: • a weekly demand of 301 at a price of $13 per toaster • a weekly demand of 192 at a price of $16 per toaster The financial department estimates that weekly fixed costs will be $1,393 and variable costs (cost per unit) will be $4. Assume: • the relationship between price and demand is linear • the cost function in linear Use your models to predict the marginal profit when Yaster is producing and selling 270 toasters per week. Round to the nearest cent. $_ per toaster

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Concept explainers

Accounting and Economic Profit analysis

One comes across the concept of Profits in the context of business and in analyzing the results of business activity. Profits of a business can be accounting profits, and they can also be economic profits. So how does one understand the concept of accounting versus economic profits?

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Marginal Profit
Yaster Breakfast Supplies is planning to manufacture and market a new toaster. After
conducting extensive market surveys, the research department provides the following
estimates:
• a weekly demand of 301 at a price of $13 per toaster
• a weekly demand of 192 at a price of $16 per toaster
The financial department estimates that weekly fixed costs will be $1,393 and variable costs
(cost per unit) will be $4.
Assume:
• the relationship between price and demand is linear
• the cost function in linear
Use your models to predict the marginal profit when Yaster is producing and selling 270
toasters per week. Round to the nearest cent.
per toaster
$
69

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