Engineering Economy (16th Edition) - Standalone book
Engineering Economy (16th Edition) - Standalone book
16th Edition
ISBN: 9780133439274
Author: William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
Publisher: PEARSON
Question
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Chapter 2, Problem 11P

(a):

To determine

Revenue and cost graph.

(b):

To determine

Fixed cost.

(c):

To determine

Variable cost.

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Direction: Solve the problems on the space provided after each number. Show your solutions. You can submit using messenger or using your VLE account. Take a photo of your answers if using messenger to submit. If using VLE, encode your answers and send as file.    If profit is maximum at sales of 700 units, does the firm have no choice but to limit sales at this level? Explain your answer.       A business firm produces and sells a particular product. Variable cost is P30/unit. Selling price is P40 per unit. Fixed cost is P60,000. What is the break-even quantity and break-even point? Show your solution.         A manager makes the statement that output should be expanded as long as average revenue exceeds average cost. Does this strategy make sense? Explain.       Suppose that the steel firm’s costs are shown below: Complete the table and determine the optimal output to be produced.   Output (Q) TFC TVC TC MC TR MR Profit/Loss 0 500 0…
Assume that the linear cost and revenue models apply. An item costs $6 to make. If fixed costs are $2400 and profits are $2100 when 100 items are made and sold, find the revenue equation. (Let x be the number of items.) R(x) =
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