A company manufactures two products. If it charges price pi for product i, it can sell qi units of product i, where q1 = 60 - 3p1 + p2 and q2 = 80 - 2p2 + p1. It costs $5 to produce a unit of product 1 and $12 to produce a unit of product 2. How many units of each product should the company produce, and what prices
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A company manufactures two products. If it charges
price pi for product i, it can sell qi units of product i,
where q1 = 60 - 3p1 + p2 and q2 = 80 - 2p2 + p1. It
costs $5 to produce a unit of product 1 and $12 to produce a unit of product 2. How many units of each
product should the company produce, and what prices
should it charge, to maximize its profit? Use spreadsheet modelling in Excel
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- - Consider demand: x(p₁) = 400 — 2p1 At a market price of p₁ = $125 per unit: • Determine the social loss due to moral hazard when assuming: 1. Full insurance compared to uninsured 2. A co-payment of $50 compared to uninsured 3. A 75% coinsurance rate compared to uninsuredSuppose that it costs $15 to produce a low-quality wallet and $16 to produce a high-quality wallet, consumers cannot distinguish between the products before purchase, there are no repeat purchases, and consumers value the wallets at their cost of production. The twenty firms in the market produce 500 wallets each. Each firm produces only high-quality or low-quality wallets. Consumers pay the expected value of a wallet. Do any of the firms produce high-quality wallets? A firm will not have an incentive to produce high-quality wallets: If one firm makes a high-quality wallet, then each firm that produces low-quality wallets will earn a profit of $ and the firm that makes the high-quality wallets will earn S. (Enter numeric responses using real numbers rounded to two decimal places.)A monopolist's total cost is TC = 4.5Q, where Q is output. Demand is Q = 10 - P , where P is price. When the monopolist chooses the profit maximizing Q*, the profit earned is
- A lathe costs $56,000 and is expected to result in net cash inflows of $20,000 at the end of each year for three years and then have a market value of $10,000 at the end of the third year. The equipment could be leased for $22,000 a year, with the first payment due immediately. If the organization does not pay income taxes and its MARR is 10%, show whether the organization should lease or purchase the equipment.Elkins, a manufacturer of ice makers, realizes a cost of $250 for every unit it produces. Its total fixed costs equal $5 million. If the company manufactures 500,000 units, compute the following:a. unit costb. markup price if the company desires a 10% return on salesc. ROI price if the company desires a 25% return on an investment of $1 millionPlease show all work and explain answer. OneRing Company sells memorabilia to residents of Middle-Earth. They are about to invest $6 million in a new ring making plant. Fixed costs of operating the plant are $1 million a year. The ring costs $60/unit to manufacture (variable cost) and will be sold for $200/unit. The plant will last for 5 years, and will be depreciated over 5 years to zero using the straight-line method. The plant will have no salvage value after five years. Net working capital requirements are negligible for this project. Assume there are no taxes in Middle-Earth, and that the appropriate discount rate for the project is ten percent. How many rings per year must OneRing sell in order to break even?
- 8. An acquaintance in marketing has requested your help in pricing the Spider Cider product for the launch. They tell you that for every day after the Spider Cider beverage is produced the company incurs a $3,650 fee to keep the unbottled beverage in vats, at 17.00°C, and the postponement of sales in stores. If Witch's Brew wants to make a minimum profit of $50,000, how much will each Spider Cider drink need to cost after choosing the bid with the lowest overall unit cost? (Hint: think of ALL the costs associated with the final beverage.) References:Mamma Temte bakes six pies a day that cost $2 each to produce. On 31% of the days she sells only two pies. On 39% of the days, she sells 4 pies, and on the remaining 30% of the days, she sells all six pies. If Mama Temte sells her pies for $5 each, what is her expected profit for a dayʹs worth of pies? [Assume that any leftover pies are given away.]Annie tells her granddaughter, Mary, that in 1934 you could buy a house for $ 17,000 and a jacket for $ 6 . Mary says that in 2018 such a house costs $ 275,000 and such a jacket costs $ 60 . The CPI in 1934 was 15.2 , and in 2018 , it was 245.4 . Which house has the lower real price? Which jacket has the lower real price? The house with the lower price is the _______, and the jacket with the lower price is the _______. A. $275,000 house in 2018; $6 jacket in 1934 B. $17,000 house in 1934; $60 jacket in 2018 C. $275,000 house in 2018; $60 jacket in 2018 D. $17,000 house in 1934; $6 jacket in 1934
- I need a detailed explanation on how to solve this problem: A bagel shop buys each bagel for $0.08 and sells each bagel for $0.35. Leftover bagels at the end of the day are purchased by a local soup kitchen for $0.03 per bagel. The shop’s owner has observed for the daily demand, Q, the following probabilities, f(Q): Q 0 5 10 15 20 25 30 35 f(Q) 0.05 0.10 0.10 0.20 0.25 0.15 0.10 0.05 - What is the optimal daily order in multiples of 5 (include the model name and formula)? - If the daily demand is normally distributed (the mean and variance can be obtained from the table above), then what is the optimal daily order?Calculate the break-even point for a new toy that costs $12 to make and market and that will be sold for $15. The total quantity that will be sold at that price is 200,000.Barbara Flynn sells papers at a newspaper stand for $0.40. The papers cost her $0.30, giving her a $0.10 profit on each one she sells. From past experience Barbara knows that: a) 20% of the time she sells 150 papers. b) 20% of the time she sells 200 papers. c) 30% of the time she sells 250 papers. d) 30% of the time she sells 300 papers. Assuming that Barbara believes the cost of a lost sale to be $0.05 and any unsold papers cost her $0.30 and she orders 250 papers. Use the following random numbers: 14, 4, 13, 9, and 25 for simulating Barbara's profit. (Note: Assume the random number interval begins at 01 and ends at 00.) Based on the given probability distribution and the order size, for the given random number Barbara's sales and profit are (enter your responses for sales as integers and round all profit responses to two decimal places): Random Number Sales Profit 14 4 13 9 25