A company manufactures Products A, B, and C. Each product is processed in three departments: I, II, and III. The total available labor-hours per week for Departments I, II, and III are 1020, 1080, and 900, respectively. The time requirements (in hours per unit) and the profit per unit for each product are as follows.   Product A Product B Product C Dept. I 2 1 2 Dept. II 3 1 2 Dept. II 2 2 1 Profit $18 $12 $15 If management decides that the number of units of Product B manufactured must equal or exceed the number of units of products A and C manufactured, how many units of each product should the company produce to maximize its profit?

The explicit cost of the firm is $800, implicit cost is $550 and the total revenue is $3000 Calculate the economic profit

The Finger Lakes region in New York State produces wine. The climate favors white wines, but reds have been produced successfully in the past 15 years. Categorize the following costs incurred by one winery as either fixed or variable G. the wages of the wine expert who blends the wine in August and September, after the grapes have been picked

Maximizing Profits The weekly demand for the Pulsar 40-in. high-definition television is given by the following demand equation where p denotes the wholesale unit price in dollars and X denotes the quantity demanded. p=-0.05x+622 (0 ≤ x ≤ 12000) The weekly total cost function associated with manufacturing these sets is given by the following function where C(x) denotes the total cost incurred in producing x sets. C(x)=0.000002x³-0.01x² +400x + 80000 Find the level of production that will yield a maximum profit for the manufacturer. Hint: Use the quadratic formula. (Round your answer to the nearest whole number.) units

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In Figure 2-a, the average variable cost curve is curve Group of answer choices A D C B

Rent of a factory is the fixed cost for the firm True/False

Question 1 Include correctly labeled diagrams, if useful or required, in explaining your answers. A correctly labeled diagram must have all axes and curves clearly labeled and must show directional changes. If the question prompts you to "Calculate," you must show how you arrived at your final answer. Quantity of Output Total Cost $12 1 $14 2 $18 $24 4 $32 5 $42 6 $54 7 $68 The table above shows the total cost function for a typical firm producing hats in a perfectly competitive market. The market price for hats is $9 per hat. (a) Calculate the average variable cost of the fifth unit. Show your work. (b) What is the firm's profit-maximizing quantity of hats? Explain using marginal analysis. (c) Draw a correctly labeled graph showing the firm's demand and marginal cost curves, and show the profit-maximizing quantity of hats determined in part (b). (d) If the rent of the building the firm occupies increases, what will happen to the firm's profit-maximizing quantity of output in the short…

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Suppose you make beautiful coffee tables out of juniper trees. Your materials cost for each table is $135. You pay your craftsman $25 per hour and it takes him 5 hours to complete one table. If you sell these tables for $689, what is your Cost of Goods Sold Percentage?    2. What is the Gross Profit Margin on the coffee tables described in question 1 above?   3. Suppose your company sells a 3 pack of lenses that attach to smart phones to improve the quality of pictures people take. You pay $29.95 for each 3 pack and sell them for $59.95. What is your Cost of Goods Sold Percentage for this item?   4. Suppose you sell 8,000 of the 3 pack of lenses described in question 3 above in one year. You cost on each 3 pack is $29.95 and you sell them for $59.95. If your operating expenses for the year total $144,080, what are your Net Income and Net Profit Margin Percentage?   5. Suppose an investor gave you $150,000 to start your business. You gave this investor 50 percent of your company for…