ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN: 9780190931919
Author: NEWNAN
Publisher: Oxford University Press
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A manufacturer of scrapbook kits has a fixed cost of $30,000. This manufacturer expects to sell 6,000 scrapbooks for $17.50. This
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- A bag factory produces 30 units of output. Its average fixed cost (AFC) = $32, average total cost (ATC) = $45, and marginal cost (MC) = $25. The shoe factory’s total variable cost isarrow_forwardWhen a firm produces one more unit of output the total revenue increases from $805 to $965, and the total cost increases from $520 to $725. When this last unit of output was produced, what was the change in profit? Enter a whole number with no dollar sign. Enter a negative sign if appropriate.arrow_forwardIf the total cost of 20 units of a product is $20, and the total cost of 21 units is $21, then from 20 to Multiple Choice marginal cost is decreasing. marginal cost equals average total cost. marginal cost equals average variable cost. average total cost equals average variable cost. I units of product thearrow_forward
- When a firm produces one unit, the variable cost is $3. When the firm produces two units, the variable cost is $6. What is the marginal cost associated with two units of production.arrow_forward4 parts plsarrow_forwardWhat would be the profit of a firm who generates a total revenue of $3300 and the cost incurred is $2900arrow_forward
- Rent of a factory is the fixed cost for the firm True/Falsearrow_forwardA company produces very unusual CD's for which the variable cost is $ 9 per CD and the fixed costs are $ 50,000. They will sell the CD's for $ 57 each. Let x be the number of CD's produced and sold. a. Write the total cost TC as a function of the number of CD's produced and sold. TC = $ b. Write the total revenue TR as a function of the number of CD's produced and sold. TR = $ c. Write the total net income NI as a function of the number of CD's produced and sold. NI = $ d. Find the number of CD's which must be produced and sold to breakeven. The number of CD's which must be produced and sold to breakeven is Round UP to the nearest whole number of CDs. Submit Questionarrow_forwardSuppose 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…arrow_forward
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