Price10985A3210250500 750 1000Quantity of kilos per month1250D KncesWSuppose that the government of Hatha introduces a price floor of $6.a) What quantity of rice will buyers purchase?kilos.b) How much in total will buyers be paying for the amount in (a)?c) What will be the amount of the rice surplus?kilos.d) What is the dollar value of this surplus?$Hc< Prev12 of 5wwwNext>

Answered: Price 10 8 7 9 5 сл 4 3 2 1 0 250 500…

Business

Economics

Price 10 8 7 9 5 сл 4 3 2 1 0 250 500 750 1000 Quantity of kilos per month 1250 S D

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Number of wells Total water output (in 1000s of liters/day TR TC AVR Profit 0 0 0 0 0 0 10 100 10000 600 1000 9400 20 200 20000 1200 1000 18800 30 280 28000 1800 933.3 26200 40 340 34000 2400 850 31600 50 380 38000 3000 760 35000 60 400 40000 3600 666.7 36400 70 400 40000 4200 571.4 35800 80 380 38000 4800 475 33200 90 340 34000 5400 377.8 28600 Use your graph and the data in your table to identify the economically efficient numberof wells (Hint: What is the profit maximizing number of wells?)
3. Consider the following table: (1) (2) (3) (4) (5) (6) (7) (8) OUTPUT FC VC TC AFC AVC ATC MC 5000 5000 10 5000 (a) 7000 500 200 (b) 200 25 (C) 6000 (d) 200 (e) 440 (A 45 5000 (a) 14000 111 200 (h) 150 58 5000 12000 (i) 86 () 293 (k) 65 5000 (L) 20000 (m) 231 308 429 (n) 5000 18000 23000 71 257 329 (0) (i) List down only the formula that you would need to figure out the values in column 4-8. (ii) Copy the table on paper and fill in the blanks from (a) to (0). Show your calculation in the answer sheet.
Tandem Bikes manufactures exercise bicycles built for two. It sells a cycle for $196 (custom painted in your color choice). The costs associated with Tandem's production are: Fixed costs (per year) Administrative labor $50000 Variable Costs per bike Materials $30 Mfg. Labor Assembly labor Packing material Packing labor Shipping cost ТОTAL Utilities 5000 24 Plant Overhead 65000 $120000 8 3 ТOTAL Note: this is $10000 per month. 10 $77 1. Find the monthly breakeven quantity using the above data. 2. Express monthly breakeven dollar sales (using the quantity calculated in #1). 3. The cost of utilities doubles (annual fixed costs are now $125000 which is $10416.67 per month). What is the new monthly breakeven quantity? 4. What is the Contribution Margin Ratio (CMR), using the costs used in #3? 5. You believe you can sell only 80 bikes a month. Using the costs from #3, what price must be charged per bike to break even selling only 80 bikes per month? 6. Using the original selling price of…
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Distance to city edge (miles) 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 Housing Developer's Bid Rent ($/acre) $1,000,000 $900,000 $800,000 $700,000 $600,000 $500,000 $400,000 $300,000 $200,000 $100,000 $0 $0 $0 $0 $0 Farmer's Bid Rent Curve ($/acre) $600,000 $600,000 $600,000 $600,000 $600,000 $600,000 $600,000 $600,000 $600,000 $600,000 $600,000 $600,000 $600,000 $600,000 $600,000 The maximum amount that housing developers and farmers are willing to pay for land is depicted in the table above: 1. How far from the CBD will developers be willing to build houses? 2. If the market price of a harvest increases by $100,00 but farmer costs remain the same, what will happen to the edge of the city over the long run?
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If the details of the quantity to be produced for a period are as follows, how many units are produced? The opening inventory is 160 units; units sold are estimated to be 200 units; the desired closing stock is 100 units. a. 200 units b. 260 units c. 460 units d. 140 units
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The future value of 1000 Rand for 8% interest rate over 6 years is a certain value. At what interest rate will you get the same future value when you change the period to 3 years for the same 1000 Rand? Hint use goal seek
2-8 Consider the accompanying breakeven graph for an investment, and answer the following questions as they pertain to the graph. Euros (x104) €40r 585850 35 30 25 20 15 10 s 0 Total Revenue Total Cost 250 500 750 1000 1250 1500 1750 Output (units/year) Give the equation to describe total revenue for x units per year. (b) Give the equation to describe total costs for x units per year. (c) What is the "breakeven" level of x in terms of costs and revenues? (d) If you sell 1500 units this year, will you have a profit or loss? How much?
What is the markup price for the Acme1 battery? HINT: Calculate markup price as Unit Cost/ (1-Markup%) $30 $35.20 $42.50 $34