72 04 12 10 B Supply (10 firms) Demand Supply (20 firms) о 0 120 240 360 400 600 720 840 950 1000 1200 QUANTITY (Thousands of pounds) Supply (30 firms) there were 20 firms in this market, the short-run equilibrium price of titanium would be would Therefore, in the long run, firms would ecause you know that perfectly competitive firms earn per pound. At that price, firms in this industry the titanium market. economic profit in the long run, you know the long-run equilibrium price must firms operating in the titanium industry in long-run per pound. From the graph, you can see that this means there will be, quilibrium. Consider the perfectly competitive market for copper. Assume that, regardless of how many fi identical and faces the marginal cost (MC), average total cost (ATC), and average variable c COSTS (Dollars per pound) 70 ༔ ༔ བྷྰ ༄༄ བྷྲབྷུ བྷ་ 20 ATC, 10 MCO AVC ° 0 10 20 30 40 50 00 70 00 90 QUANTITY (Thousands of pounds) 100

Write the formula of Annual Effective Yields?

BVM manufactured and sold 25,000 small statues this past year. At that volume, the firm was exactly in a breakeven situation in terms of profitability. BVM’s unit costs are expected to increase by 30% next year. What additional information is needed to determine how much the production volume/sales would have to increase next year to just break even in terms of profitability?                                                                          (a) Costs per unit (b) Sales price per unit and costs per unit (c) Total fixed costs, sales price per unit, and costs per unit (d) No data is needed, the volume increase is 25, 000 + 25, 000(0.30) = 32, 500 units.

Costs and revenues (in thousands) 99 15 30 45 60 75 901052013550165 80195 Quantity per period (in thousands) Tools 1 O A

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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

Please don't use excel and show equations used.

Given the following information for an insurance company that writes 24-month term policies: Number of Vehicles 50 100 Policy Group A B Effective Date January 1, 2010 Expiration Date December 31, 2011 July 1, 2010 June 30, 2012 All policies within each group have the same effective date. (a) Calculate the earned car-years for calendar year 2011. (b) Calculate the earned car-years for policy year 2010 evaluated as of December 31, 2010 and as of December 31, 2011. (c) Assume Policy Group B cancels on January 1, 2011. Calculate the 2010 policy year written car- years evaluated as of December 31, 2010 and as of December 31, 2011 for Policy Group B. (d) Assume Policy Group B cancels on July 1, 2011. Calculate the 2010 and 2011 calendar year written car-years for Policy Group B.

Q TFC TVC TC MC AFC AVC ATC $20 $0 1 $20 $15 2 $20 $25 3 $30 4 $6 $8.80