A company produces a special new type of TV. The company has fixed costs of $477,000, and it costs $1100 to produce each TV. The company projects that if it charges a price of $2500 for the TV, it will be able to sell 750 TVs. If the company wants to sell 800 Tvs, however, it must lower the price to $2200. Assume a linear demand. What price should the company charge to earn a profit of $953,000? it would need to charge $_____.
Q: 4.(a). Competition might be a worry for Toyota. PM = the price of Mazadas. Calculate the point…
A: Since you have posted multiple questions, we will provide the solution to only the first question as…
Q: 4. Shifts in production possibilities Suppose the fictional country of Yosemite produces two types…
A: Opportunity cost is the value of the next-best alternative forgone when a choice is made. In other…
Q: Economics government to tax private forestlands with a constant proportion and depending on the…
A: TAX:Tax is the amount of income that the people of a country pay to the government of the given…
Q: 2. Consider the following information: income = 32, price of peanut butter = 1, price of jelly = 4,…
A: Compensating variation is a concept in economics that quantifies the amount of additional income an…
Q: As the only producer in the apple market, at what price, how many apples would Alex sell per week in…
A: Marginal revenue refers to the additional revenue a producer generates from additional sales.…
Q: 3. Profit maximization using total cost and total revenue curves Suppose Sam runs a small business…
A: This can be defined as a concept that shows the cost incurred in the production process of a…
Q: The graph shows an equilibrium in the market for reserves. An open market sale would shift the…
A: The Federal Reserve (Fed) buys and sells securities on the open market; this is known as an open…
Q: Given this diagram, what is the numerical value of the autonomous spending simple multiplier? 8.…
A: The following graph is provided:The curves/lines depict the following parameters:C = ConsumptionI =…
Q: "ea under the curve or volume makes sense. ) Transfer the data into an Excel File Put your name in…
A: Marginal cost is the cost incurred by producers while producing one additional unit of product. In…
Q: $11. Anne and Bruce would like to rent a movie, but they can't decide what kind of movie to get:…
A: The Nash equilibrium is a form of game that involves two players. The equilibrium is reached at a…
Q: The graph shown represents the cost and revenue curves faced by a monopoly. What profit is earned by…
A: A producer always want to ensure that the overall revenue that they earn is higher than the cost…
Q: Reframe the theory of employment discrimination in light of behavior over time data
A: This can be defined as a situation In which the person is actively finding a job and has have…
Q: Which of the following shows how the Real Income Effect explains the Law of Demand? OA) As income…
A: The law of demand states that there is an inverse relationship between price and quantity demanded.…
Q: 3. Consider the individual's utility function: U = U(C, L) = L Ch (a) Compute the Marshallian labour…
A: Marshallian labor supply refers to the relationship between the wage rate and the amount of labor…
Q: Initial values are: This function is: PM $20000 PG = $1.00 I = $15000 A = $1000 QT = 200-.01PT…
A: a) Elasticity is defined as the degree of responsiveness in the quantity demanded of the good…
Q: How many units did a company sell at $25.92 if they have 36% of the $6,480,000 industry? ___________…
A: A competitive market is one in which several independent companies compete with one another to…
Q: The equilibrium level of real GDP in this private open economy is Multiple Choice $600 billion. $700…
A: This can be defined as a concept that shows the total amount of demand for the commodities and…
Q: In the year 2021, a corporation made $18.2 Million in revenue, $2.4 Million of operating expenses,…
A: The issue you raised has to do with financial analysis and corporate income taxation. In addition to…
Q: 1. If LRAS = $500 billion, RGDP = $700 billion, and MPC = .8, then what should the Fed do? Be…
A: Disclaimer- “Since you have asked multiple questions, we will solve the first question for you as…
Q: Images from the Great Depression included lines of people standing at their financial institution…
A: A bank run occurs when the customers of a bank or other financial institution fears about the bank's…
Q: The ____________ lag for monetary policy is generally ____________ than it is for fiscal policy.…
A: A central bank implements monetary policy to manage and control the Ms, interest rates, and the…
Q: Consider an economy characterized by the following equations: C=750 +0.75Y+0.05W 1=250 where C is…
A: Aggregate expenditure is the sum of all expenditures undertaken in an economy. This includes…
Q: The figure above shows the log of UK real GDP per capita between 1875 and 1914. Which of the…
A: The term GDP represents "Gross Domestic Product." It is a crucial economic metric for evaluating the…
Q: S₁ с ☆ A E D Quantity Price B 0 4 S Refer to the figure in which S is the before-tax supply curve…
A: Taxation is crucial in today's economic context because it provides governments with revenue to fund…
Q: If marginal product is decreasing, then it must be the case that average product is greater than…
A: Marginal product refers to the additional output or production that is achieved by using one more…
Q: 3. Bureau of Economic Analysis in the USA is responsible for construction and maintenance of…
A: Calculation of GNP at factor cost (GNPFC) from the given data using the income method:Income…
Q: In a Cournot duopoly there are two firms, 1 and 2. The market price is given by p=2-9₁-92. The cost…
A: Duopoly is a type of market structure is characterized by the presence of two dominant firms that…
Q: 11. Complete the below table. Labor Units TP 0 1 5 0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19…
A: The Marginal productivity is calculated by subtracting the total productivity of the current period…
Q: How do you make people believe that the banking system is safe? In the old days it was often done…
A: The provided question has been answered from the generalized perspective of financial…
Q: Refer to the accompanying table. The marginal utility of the 3rd dinner is Marginal Utility Number…
A: Marginal utility is the additional utility is obtained by the consumer by consumption of an…
Q: What is the extent of income mobility in the US and how might it be increased?
A: National income:It refers to income earned from producing goods and services in an accounting year.…
Q: All Stafford loans are O only for full-time students for undergraduate and graduate students O…
A: Stafford loans, also known as Direct Loans, are federal student loans provided by the U.S.…
Q: Why is understanding NPV important to both the buyer and seller of a firm when there is a potential…
A: Net Present Value (NPV) is a financial metric that is widely used in capital budgeting and…
Q: The U-3 rate for April 2020 was 14.7%The U-6 rate for April 2020 was 22.9% Based on the answers to…
A: The objective of the question is to find the numerical difference between the U-6 measure of labor…
Q: Expenditures, Income Price level 60 50 40 30 20 10 0 8288780 60 50 40 30 10 0 0 10 20 30 40 50 real…
A: Macroeconomic analysis is important in modern economics because it provides critical information…
Q: (Figure: The Perfectly Competitive Firm) Use Figure: The Perfectly Competitive Firm. The figure…
A: A perfectly competitive firm is one among many in a market where products are identical, and entry…
Q: 9 Jordan visits her sister several times a year. Jordan's travel budget is $600, which she uses to…
A: Budget (M) - $600Train cost - $120Bus cost - $40New Budget (M') = $360
Q: Let us consider the firm producing a single output using two inputs. Suppose that the firm's…
A: Production function: A production function is homogenous of degree one if it satisfies the following…
Q: Will's expenditures on food for three consecutive years, along with other values, are presented in…
A: The acronym CPI represents "Consumer Price Index." This widely used economic indicator calculates…
Q: An analysis of the grades on the first test in History 101 revealed that they approximate a normal…
A: A normal distribution is a symmetric, bell-shaped probability distribution where the mean, median,…
Q: Given the preceding graph and knowing the price of an Americano is $4, Beth's available income for…
A: Given:- Beth consumes two goods Danish and Americano. Now it is also given that the price of…
Q: Which of the following is true about a single price monopolist? a At the profit maximizing output,…
A: This can be described as a form of market in which no single producer or consumer has the power to…
Q: (2.2) Emily's coffee shop has a production function with L-shaped isoquants Capital (units) 12 8 4 3…
A: When a production function assumes a fixed proportion between K and L, the isoquant takes 'L' shape.…
Q: . Panel (a) illustrates constant returns to scale 1. Panel (b) illustrates decreasing returns to…
A: The returns to scale is long term economic phenomenon tha shows relationship between output and all…
Q: Suppose the current rate of inflation is about 14% and there is an inflationary gap of $150 billion…
A: The government expenditure can influence the inflation rate. The government often want to introduce…
Q: According to new classical economists, if a decrease in aggregate demand is correctly anticipated,…
A: “Since you have asked multiple questions, we will solve the first question for you. If you want any…
Q: When faced with alternatives having unequal lives, do the following when calculating the…
A: The issue you raised is related to the field of project evaluation, particularly when it comes to…
Q: 300 250 200 150 100 50- 07. The minimum Average Variable Cost is O(a) $4 0 Q 0 2 4 6 8 10 12 14 16…
A: Average variable cost can be defined as an average cost at a defined level of production with a…
Q: 3. Suppose STL Electro is a natural monopoly that produces electricity in the St. Louis region. a.…
A: A monopoly is a market structure in which a single seller or producer has a significant degree of…
Q: using the diagram below defent thr point that a free market will always move from disequilibrium to…
A: Market equilibrium refers to a condition at which the quantity demanded of a goods or services…
A company produces a special new type of TV. The company has fixed costs of $477,000, and it costs $1100 to produce each TV. The company projects that if it charges a price of $2500 for the TV, it will be able to sell 750 TVs. If the company wants to sell 800 Tvs, however, it must lower the price to $2200. Assume a linear demand. What price should the company charge to earn a profit of $953,000?
it would need to charge $_____.
Step by step
Solved in 3 steps with 2 images
- A company produces a special new type of TV. The company has fixed costs of $494,000, and it costs $1100 to produce each TV. The company projects that if it charges a price of $2500 for the TV, it will be able to sell 700 TVs. If the company wants to sell 750 TVs, however, it must lower the price to $2200. Assume a linear demand. What price should be set to earn maximum profits?A company produces a special new type of TV. The company has fixed costs of $468,000, and it costs $1400 to produce each TV. The company projects that if it charges a price of $2400 for the TV, it will be able to sell 750 TVs. If the company wants to sell 800 TVs, however, it must lower the price to $2100. Assume a linear demand. What price should the company charge to earn a profit of $742,000?A company produces a special new type of TV The company has fixed costs of 5497,000, and it costs $1100 to produce each TV The company projects that if it charges a price of $2200 for the TV, it will be able to sell 800 TVs. If the company wants to sell 850 TVs, however, it must lower the price to $1900. Assume a linear demand. What price should the company charge to earn a profit of $883,0007 It would need to charge $ (Round answer to nearest dollar. If more than one answer, separate with a comma)
- A company produces a special new type of TV. The company has fixed costs of $451,000, and it costs $1000 to produce each TV. The company projects that if it charges a price of $2600 for the TV, it will be able to sell 800 TVs. If the company wants to sell 850 TVs, however, it must lower the price to $2300. Assume a linear demand. If the company sets the price at $3800, how much profit can it earn? It can expect to earn/lose $enter your response here. (Round answer to nearest dollar.)you are an accountant for a manufacterer of radios. the demand function for the tablets is p= 40-4x2 where x is the number of tablets produced in millions. it costs the company $15 to make a tablet. write an equation for the manufactures profit as a function of the number of tablets produced. the company currently produces 1 million tablets and makes a profit of $21000000, but you would like to scale up production a bit, what greater number of tablets could the company produce to yield the same profitBased on Zangwill (1992). Murray Manufacturing runs a day shift and a night shift. Regardless of the number of units produced, the only production cost during a shift is a setup cost. It costs $8000 to run the day shift and $4500 to run the night shift. Demand for the next two days is as follows: day 1, 2000; night 1, 3000; day 2, 2000; night 2, 3000. It costs $1 per unit to hold a unit in inventory for a shift. a. Determine a production schedule that minimizes the sum of setup and inventory costs. All demand must be met on time. (Note: Not all shifts have to be run.) b. After listening to a seminar on the virtues of the Japanese theory of production, Murray has cut the setup cost of its day shift to $1000 per shift and the setup cost of its night shift to $3500 per shift. Now determine a production schedule that minimizes the sum of setup and inventory costs. All demand must be met on time. Show that the decrease in setup costs has actually raised the average inventory level. Is this…
- A university football team faces the following demand schedule shown for tickets for each home game it plays. The team plays in a stadium that holds 60,000 fans. It estimates that its marginal cost of attendance, and thus for tickets sold, is zero. The table below reflects this data: Price per Ticket ($) Tickets per Game 100 80 60 40 20 0 Total revenue = $ 20,000 40,000 60,000 80,000 100,000 Using this information, calculate how much total revenue the team will earn.Panini, a popular sandwich shop, offers 3 types of sandwiches: Grill vegetables, grilled chicken and pastrami. The table below provides demand data: Pastrami Grilled Vegetables Grilled Chicken Demand per hour 25 25 10 There are up to five steps in the process of making sandwiches, listed below with activity times. Only 50% of customers want their sandwich toasted, no matter which sandwich is ordered. Step Grilled Vegetables Grilled Chicken Pastrami Cut bread 75 minutes .75 minutes .75 minutes Grill 1.9 minutes 1.9 minutes Slice meat 3 minutes Toast 2 minutes 2 minutes 2 minutes Wrap .75 minutes .75 minutes .75 minutes Suppose Panini employs 1 worker at each step. What is the implied utilization of the bottleneck of this process?You are the CEO for a lightweight compasses manufacturer. The demandfunction for the lightweight compasses is given by p = 40 − 4q2where q is the number of lightweight compasses produced in millions.It costs the company $15 to make a lightweight compass.(i) Write an equation giving profit as a function of the number of lightweight compasses produced.
- If A New Breakthrough in Manufacturing technology reduces the cost of producing Blu-ray Players By Half what Will Happen to supply of blu-ray playersPractice #6 Francine is a a dental floss tycoon living in Montana. She faces the following demand curve for her product: Price ( in $/unit) Quantity demanded 2.50 1000 2.20 2000 1.90 3000 1.60 4000 1.30 5000 1.00 6000 .70 7000 .40 8000 Francine has been told by her brother, who is currently taking a marketing class, that if she lowers her price by one increment(for example; changing price from .70 to .40, she will capture market share and increase total revenue. All of her advisors within the company have assured Francine that her brother's advice may be correct, BUT the above demand curve will not change. Assume that Francine knows the above demand curve will not change and is also considering her brother's advice. The prices can only change in…A manufacturer can produce a gizmo at a cost of $6 apice. He sells this gizmo for $10 ,and at this price 10 gizmos are sold each day. The manufacturer figures that each $3 dollars decrease in price will sell 3 additional goods each day. Write out the Demand and Profit functions. What price xmaximizes profit?