Calculate the Gross Profit Ratio from the following information :- 2010 2011 ales (Revenue from Operations) Fross Profit 1,20,000 30,000 1,80,000 36,000
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- Firm Measures: Productivity, Costs, Revenues, and Profits Labor Total Product (TP) Fixed Cost (TFC) Variable Cost (TVC) $800,000 $ 0 $800,000 $ 800,000 $800,000 $800,000 d. e. f. g. 0 1 2 4 5 6 1. 0 8000 30000 45000 56000 60000 63000 $800,000 $800,000 $800,000 $1,500,000 $2,250,000 $3,130,000 $4,200,000 $5,040,000 a. Solve for marginal product (MP) in each row, except for where labor = 0. b. After which worker does the region of diminishing marginal returns begin? c. Specialization and division of labor are observed in which one of the three Price $80 $80 $80 $80 $80 $80 $80 regions? Solve for total cost (TC) in each row. Solve for average variable cost (AVC) in each row, except for where labor = 0. Solve for marginal cost (MC) in each row, except for where labor = 0. Why are the MC and MP inversely related to one another? While it is because as one increases, the other decreases, please explain the meaning behind the inverse relationship that exists between worker productivity and…QUESTION 2 A shoe company manufactures and sells a pair of shoes with the following cost and revenue data: 75 Variable cost Per Unit (AED) 20 Selling price Per Unit (AED) Total fixed expenses per month are as follows: Expenses types AED Advertising 388,348 Rent 90,000 Heating 80,000 a. How many units would the company have to sell to have a profit of AED 150,000?Quantity of Output Produced (units) 1 2 3 4 5 6 7 Total Variable Cost ($) $90 $100 Impossible to determine 100 190 270 340 420 510 610 According to the Table above, the firms total fixed cost is Increasing O Decreasing Total Cost ($) 200 290 370 440 520 610 710
- Quantity (Q) 1 2 3 456700 8 Total Fixed Cost (TFC) 50.00 50.00 50.00 50.00 50.00 50.00 50.00 50.00 Total Variable Cost (TVC) 0.00 17.00 30.00 41.00 48.00 57.00 77.00 81.00 Total Cost (TC) Average Average Average Fixed Variable Total Cost Cost Cost (AFC) (AVC) (ATC) Marginal Cost (MC)Output (unit) Total cost (RM) Total fixed cost (RM) Total variable cost (RM) Average fixed cost (RM) Average variable cost (RM) Average total cost (RM) Marginal cost (RM) 0 600 600 - - - - - 10 1050 600 450 60 45 105 45 20 1450 600 850 30 42.5 72.5 40 30 1800 600 1200 20 40 60 35 40 2100 600 1500 15 37.5 52.5 30 50 2450 600 1850 12 37 49 350 60 2850 600 2250 10 37.5 47.5 40 70 3300 600 2700 8.57 38.57 47.14 45 80 3850 600 3250 7.5 40.625 48.125 55 90 4500 600 3900 6.67 43.34 50 65 100 5250 600 4650 6 46.5 52.5 75 Which time period is the firm operating? Why?1. Given the following information: Total Product (TP) 0 1 2 3 4 5 6 Price Fixed Cost (TFC) $6000 $4000 6000 4000 6000 4000 6000 4000 6000 4000 6000 4000 6000 4000 Variable Cost (TVC) $ 0 7000 10000 12000 16000 22000 33000 a. Based upon the numbers from the table above, is this firm is operating in the short-run or the long-run? How do you know which time period it is operating in? | b. Based upon the numbers from the table above, how do you know that this firm exemplifies a purely competitive firm? c. Solve for total cost (TC), average fixed cost (AFC), average variable cost (AVC), average total cost (ATC), marginal cost (MC), total revenue (TR), and marginal revenue (MR) at every total product quantity. d. What is the profit maximizing level of total product (TP) in this example? (3 points) e. At a quantity of 1, will this firm produce or shutdown? Explain. How much of a profit or loss does the firm incur based upon their decision to produce or shutdown? f. At a quantity of 2, will…
- Total revenue of the firm is $3500 and the price per unit is $70 Calculate outputUNITS OF VARIABLE TOTAL MARGINAL AVERAGE PRICE OF INPUT PRODUCT PRODUCT PRODUCT INPUT TOTAL VARIABLE COST AVERAGE VARIABLE COST TOTAL FIXED TOTAL AVERAGE TOTAL MARGINAL COST COST COST COST 012345678 0 $1 $2 6 $1 2 15 $1 27 $1 37 $1 45 $1 50 $1 52 $1 50 $1 ଖ ଖ ଖ ଖ ଖ ଖ ଖ ଖ ଖ $2 $2 $2 $2 $2 $2 $2 $2b. The following are costs and revenues incurred by an ice cream company in short-run production. Fixed cost (month) : RM 5 000 1 200 Rent Interest on loan Premium insurance 600 Variable cost (month) : Wages Maintenance 8 800 300 Utilities 2 200 Raw material 9 600 2 000 Transportation Owners salary before start producing own ice cream firm 54 000 Revenue (month) : Price per one cone ice cream RM5 Operation days Average customer per day 26 days 250 customers Based on the above information, calculate: i. Total revenue ii. Total cost iii. Economic profit From the answer to question (iii), what can you advise the ice cream maker?
- Consider the following data on a firm: Number of Units Sold Total Revenue (£'s) 10 20 30 40 50 60 70 100 180 240 280 300 300 280 Fixed Costs are £100, Variable costs are constant at £3 per (i) Write a table showing the price and quantity sold. (ii) Calculate the profit maximising output of the firm (iii) What are the profits at the profit maximising output? (v) unit produced. (iv) What is the average variable cost at the profit maximising output? What is the arc price elasticity of demand between 40 and 50 units?Felde Company had $150,000 of net income in 2011 when the s4elling price per unit was $150, the variable costs per unit were $90, and the fixed costs were $570,000.Management expects per unit data and total fixed costs to remain the same in 2012. The president of Felde Company is under pressure from stockholders to increase netincome by $60,000 in 2012. Instructions (a) Compute the number of units sold in 2011. (b) Compute the number of units that would have to be sold in 2012 to reach the stockholders’ desired profit level.Question 3 Consider a corn farmer with one acre of land. In addition to land, other factors include quantity of seeds, fertilizer, water, and labor. Assume the farmer has already decided how much seed, water, and labor he will be using this season. He is still deciding on how much fertilizer to use. Units of Fertilizer Total Ears of Corn Marginal ears of Corn 1 100 2 250 3 425 4 550 5 600 6 525 (a) Determine the marginal ears of corn and complete the table. (b) At what point does diminishing returns set in for the farmer? Justify your response.