am. 157. Mary has been put in charge of a school function. She estimates that there is a fixed cost of $1020 for the site plus a cost of $4 per person thatattends. If she charges $13 a ticket she can sell 300 tickets, but if she lowers the price to $6 she can sell 700 tickets. Assuming the demand price islinear, what price should she charge to break even while maximizing attendance?

Let's break down the problem step-by-step to determine the optimal ticket price. 1. Define the…

Answered: Mary has been put in charge of a school…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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1) A manufacturer of kitche. Appliances is preparing to set the price on a new blender. Demand is thought to depend on the proce qnd is represented by the following model. D= 2,800-4p The accounting department estimates that the total cost can be represented by the following model. C=4,700+5D Develop a mathematical model for the total profit of TP in terms of the price, P. A mathematical mod for the total profit in terms of the price P is TP= ______
1-18 Katherine D’Ann is planning to finance her college education by selling programs at the football games for State University. There is a fixed cost of $400 for printing these programs, and the variable cost is $3. There is also a $1,000 fee that is paid to the university for the right to sell these programs. If Katherine was able to sell programs for $5 each, how many would she have to sell in order to break even?
An electronics company makes communications devices for military contracts. The company just completed a large contract. The Army contract was for 6808 devices that were produced by 43 workers in three weeks. Each worker worked 40 hours per week. What was the prductivity for the ARMY contact in devices per labour hour? (State your answer rounded to two decimal places)
a bakery charges $ 1.50 for donuts , and $ 2.25 for its scones. one day the manager found out that 150 scones had been sold out , and the total recepits were $ 258. how many donuts and scones were sold?
P = c + 1/(nxb). When the number of firms (n) in an industry is more thena. each firm's price level falls due to increased competitionb. the average cost of each firm rises because it produces lessc. each firm's price level rises as competition fallsd. the average cost of each firm falls as it produces more
Problem 6Cannes Croissants (not a real company) wishes to determine the optimum production quantity for its topselling product, almond croissants. The annual demandfor almond croissants is 12,000 units. The setup costs fora production run of the croissants is US$15. The holdingcost per unit per year is US$0.50. Production is mostefficient when 80 croissants are produced per day. Thecompany operates 300 days during a year.a What is the economic production quantity (EPQ)?b How many production runs will there by per year?c What is the maximum inventory level?d What is the total annual cost (in US dollars)?e What is the length of a production run in days?
The activity driver for the packing activity is the number of packing hours. Product A uses 50 packing hours and Product B uses 150 packing hours. Calculate the consumption ratios for each product. Group of answer choices 0.3; 0.7 1; 3 0.25; 0.75 0.215; 0.785
Total revenue is $3500 and the output is given as 200 units. Calculate the average revenue for the firm
OUTPUT TOTAL COST 40 49 2 57 3 64 4 70 5 77 6 85 The TVC of producing 4 units of output is : The AFC of producing 6 units of output is: : The marginal cost of producing the fifth unit of output is: : The ATC of producing 5 units of output is:
"A taxi company currently has nine cabs in its fleet, and its total daily cost is $4,000. If the company added a 10th cab, its daily total cost would be $4,200, or $420 per cab. Adding the 10th cab will increase the daily total revenue by $300. Should the company add the 10th cab? (Yes/No)"
Use the following data to answer the next question. Output 10 20 30 arch 40 50 60 70 80 90 100 ATC-A $6 5 4 5 7 10 14 19 25 32 Multiple Choice ATC-B $13 9 6 4 3 A 5 7 10 16 e ATC-C $44 35 27 20 The letters A, B, and C designate three successively larger plant sizes. In the long run, the firm should use plant size "A" for the production of E 14 11 8 6 5 7 (?)^1

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