Figure 4-7 50 45 Supply 40 35 PRICE 兴 30 25 20 15 10 5 Demand 100 200 300 400 500 600 700 800 900 1000 QUANTITY 16. Refer to Figure 4-7. Equilibrium price and quantity are, respectively, a. $30 and 500 units. b. $20 and 300 units. c. $25 and 400 units. d. $15 and 200 units. 17. Refer to Figure 4-7. At what price would there be an excess supply of 400 units of the good? a. $40 b. $30 c. $35 d. $25
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- Pricing Decisions at Madison The Madison Company manufactures and retails a certain product. The company wants to determine the price that maximizes its profit from this product. The unit cost of producing and marketing the product is 50. Madison will certainly charge at least 50 for the product to ensure that it makes some profit. However, there is a very competitive market for this product, so that Madisons demand falls sharply when it increases its price. How should the company proceed?2 In the pricing model in Example 7.1 with the constant elasticity demand function, the assumption is that all units demanded are sold. Suppose the company has the capacity to produce only 200 units. If demand is less than capacity, all of demand is sold. If demand is greater than or equal to capacity, only 200 units are sold. Use Solver to find the optimal price and the corresponding profit. Then use SolverTable to see how sensitive these answers are to the production capacity, letting it vary from 170 to 230 in increments of 10. Discuss your findings relative to the original solution in Example 7.1. In other words, what is the effect of capacity on the optimal price and profit?1. You are starting a business selling ferrets. • You need a pen and supplies which will cost you $100. Also, each ferret costs $10 each. Fill the table for cost. You will sell the ferrets for $15 each. Fill the table for Money. Plot and graph both lines for Cost and Money Use the provided paper (looks like this), take a picture and submit. 400 Money ($) Cost 0. 10 10 200 20 20 30 30 40 40 50 50 10 20 30 40 50 Edit View Insert Format Tools Table 12pt v Paragraph v BIUA v 8888- Ferrets Bought 888- Ferrets sold Money ($)Construct the cost living index number by (i) Aggregative expenditure method. (ii) Family budget method for the year 2004 taking 200 as base. Commodity Quantity Unit price($) 2000 2004 |2 Qnts Qnt 25 kg Qnt 10 kg kg kg 25kg Clothing 25 met Meter 4 Qnts Qntl |House woeat 50 75 Rice 100 120 Sugar Pure Ghee5 kg Veg. Ghee 5kg Qnt 80 120 10 10 Oil Qnt 200 200 4 Fuel 8 10 Rent |One 20 25
- ₂ F2 a V What is consumer involvement and why is it a central concept in understanding consumer behavior? A B I F3 = # 3 £ E D I F4 DC $ 4¢ R F F5 Ol † 123 III .03 COO Oca DO OD F6 % 5 ¤ T G ^ GO OL F7 64 ? 6 7 Y H F8 & 7 - CO 2.0 U F9 * ∞0 8 2 US SX₂ X² == F10 F11 ( 9 3 K O W F12 1 Ser Lk Arrêtde 0 146) Nicole has decided to go to school which costs her a total of P19,500 and give upi on a job that paid her P24,900 for the year. But instead, she can hope to earn P29,900 after she graduates. Nicole's opportunity cost amount to?a. P19,500 b. P24,900c. P29,900d. P5,000 7. Villanueva Enterprises reported the ff. information. What is the cost of goods manufactured in February?I. Jan. 2017 -job accumulated cost of P3,000ii. Feb. 2017 -the following costs were added to production: Job 1-P10,000 Job 2-P8,000Job 3-P7,000 III. Feb. 2017 Job 1 was completed and sold for P18,000 Job 2 was completed but not sold Job 3 remains in production b. P8,000c. P10,000 d. P13,000e. P21,000 8. Julie borrowed a certain amount from Diane on June 2016. Two years later, Julle i again borrowed P5,000. Julie decided to pay P1,000 on June 2019 and dischargei her balance by paying P7,500 on June 2021. What was the amount borrowed oni June 2016 if the interest rate is 8% compounded annually?a. P1,389.50 b.…4. Solar Hydro manufactures a revolutionary aeration system that combines coarse and fine bubble aeration components. This year (year 1) the cost for check valve components is $9,000. Based on closure of a new contract with a distributor in China and volume discounts, the company expects this cost to decrease. If the cost in year 2 and each year thereafter decreases by $560, what is the equivalent annual cost for a 5-year period at an interést rate of 10% per year?
- - Consider demand: x(p₁) = 400 — 2p1 At a market price of p₁ = $125 per unit: • Determine the social loss due to moral hazard when assuming: 1. Full insurance compared to uninsured 2. A co-payment of $50 compared to uninsured 3. A 75% coinsurance rate compared to uninsuredB) Price and Cost B. E Q2 Q1 Quantity Analyzing the prior graph which type of externality is this? Which line is the private and which is the public? What quantity does the private market produce, which quantity does the public want? Now give three (3) examples of this type of externality. C) Explain how externalities can be solved.comment if the stock is undervalued or overvalued if CAMP return is 12% & historical estimated return is 10% Options are : Overrated undervalued correctly priced cannot be determined
- If Exxon uses FIFO for its inventory valuation, calculate the cost of ending inventory and cost of goods sold if ending inventory is 110 barrels of crude oil. Beginning inventory and purchases Barrels Barrel cost Total cost Beginning inventory: Jan 1 129 $ 96 $ 12,384 March 1 54 102 5,508 June 1 69 99 6,831 September 1 79 91 7,189 December 1 54 104 5,616 385 $ 37,528 Cost of ending inventory Cost of goods soldThe following data relate to the price of rice per kg.in different years. year 1998 1999 2000 2001 2002 2003 2004 2005 Price 6 7 7 8 10 14 12 13 Find out price relativei. Taking 1998 as baseii. Taking 2002 as baseiii. Taking average of 1998, 1999 and 2000 as the baseAs the new owner of a supermarket, you have inherited a large inventory of unsold imported Limburger cheese, and you would like to set the price so that your revenue from selling it is as large as possible. Previous sales figures of the cheese are shown in the following table. Price per Pound, p $3.00 $4.00 $5.00 Monthly Sales, q (pounds) 404 286 224 (a) Use the sales figures for the prices $4 and $5 per pound to construct a demand function of the form q = Ae-bP, where A and b are constants you must determine. (Round A and b to two significant digits.) q = 760.04e 0.34p x (b) Use your demand function to find the price elasticity of demand at each of the prices listed. (Round your answers to two decimal places.) p = $3 E = -0.65 p = $4 E = -0.98 p = $5 E = -1.23 (c) At what price should you sell the cheese to maximize monthly revenue? (Round your answer to the nearest cent.) $ 4.17 (d) If your total inventory of cheese amounts to only 200 pounds and it will spoil one month from now, how…