If the total cost for Chifundo to produce eight jackets is $90 and the marginal cost of the eighth jacket is $12, then the total cost of jackets is [11.3.3 Marginal Cost] - nine: $102 B) seven; $78 nine; $78 seven; $102
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- Actions Events E1 E2 E3 E4 A1 8 -10 6. A2 -4 12 18 -2 АЗ 14 8 Find the best action under each of the 5 decision criteria. a. Expected Monetary Value b. Expected Opportunity Loss с. Маximax d. Maximin e. Minimax Regret Rule 1.Your business produces two products: graphics and writing assessments. However, time is finite and your business must allocate its time between the two products. If your business is producing one service, it cannot produce the other service at the same time. Based on previous experience, you know that your firm can produce 11 graphics and 20 assessments per day. Your firm could also produce 7 graphics and 40 assessments per day. Given these production possibilities, what is the tradeoff between your two services? Make sure you estimate your tradeoff (opportunity cost) in terms of how much you receive for each unit of graphics services that you give up, that is, for 1 unit of graphics given up, how many units of assessments do you gain? Make sure to express your answer to the first decimal point.Cost, Revenue & ProfitFor these problems, xx will represent the number of items and yy will represent the money.The fixed costs for a certain item are $215 per week. The cost to produce each item is $2 per item.Using this information, what is the cost equation? Give your answer in slope-intercept form:y=y= The retailer intends to sell each item for $13/item.Using this information, what is the revenue equation? Give your answer in slope-intercept form:y=y= If in this week 13 items are made, and all items are sold in the week, what are the total costs to the retailer?Cost = $What is the revenue from selling 13 items?Revenue = $Finally, what is the profit for this retailer?Profit = $Box 1 & 2: Enter your answer as an expression. Example: 3x^2+1, x/5, (a+b)/cBe sure your variables match those in the question.
- We have the results from our first Facebook ad campaign. The following table summarizes the results broken down by age and whether the person seeing the add clicked through. Age 40 or under 85 Age more than 40 65 Total Clicked Through 150 Did Not Click 590 260 850 Total 675 325 1000 For our up(combing) (pun intended) campaign, I want to make it as effective as possible, a cut above all other ad campaigns! I'm thinking that since 85 (or 56.7%) of the 150 people who clicked through to our website are age 40 or less, we should focus our ads to only younger people. I'm not great with number though, and since I know you had a stats class in college, I wanted to get your opinion. Should we focus our adds only to those age 40 and under or should we do something else?Note: Plot your points in the order in which you would like them connected. Line segments will connect the points automatically. COST PER BIKE (Dollars) 400 360 320 280 240 200 160 120 80 40 0 O 0 O 100 200 300 400 500 QUANTITY OF OUTPUT (Bikes) 600 More than 400 bikes per month Fewer than 300 bikes per month Between 300 and 400 bikes per month 700 SRATC₁ SRATC₂2 SRATC3 In the long run, over which range of output levels does Ike's Bikes experience constant returns to scale? LRAC (?Teresa is a hard-working second-year university student. One Thursday, she decides to work nonstop until she has answered 100 practice problems for her physics course. She starts work at 8:00 AM and uses a table to keep track of her progress throughout the day. She notices that as she gets tired, it takes her longer to solve each problem. Time 8:00 AM 9:00 AM 10:00 AM 11:00 AM Noon Total Problems Answered 0 40 70 90 100 Use the table to answer the following questions. The marginal, or additional, gain from Teresa's second hour of work, from 9:00 AM to 10:00 AM, is The marginal gain from Teresa's fourth hour of work, from 11:00 AM to noon, is problems. problems. Later, the teaching assistant in Teresa's physics course gives her some advice. "Based on past experience," the teaching assistant says, "working on 35 problems raises a student's exam score by about the same amount as reading the textbook for 1 hour." For simplicity, assume students always cover the same number of pages during…
- (2 of 2) Steve's Best Company has the following ABC costing information: Activities Total Costs Activity-cost drivers Account inquiry $280,000 14,000 hours Account billing $350,000 7,000,000 lines Account verification $93,750 50,000 accounts accounts Correspondence letters $29,000 4,000 letters Total costs $752,750 The above activities are used by Departments A follows: Department A Account inquiry hours 2,100 hours Account billing lines 500,000 lines Account verification 7,000 accounts accounts Correspondence letters 1,200 letters How much of the total costs will be assigned to Department A?The following graph illustrates the weekly demand curve for motorized scooters in Roanoke. Use the green rectangle (triangle symbols) to compute total revenue at various prices along the demand curve. Note: You will not be graded on any changes made to this graph. PRICE (Dollars per scooter) 260 240 220 200 180 160 140 120 100 80 60 40 20 0 0 9 18 27 A X B Demand 36 45 54 63 72 81 QUANTITY (Scooters) 90 99 108 117 Total Revenue ?5- As manager of the St. Cloud Theatre Company, you have decided that concession sales willsupport themselves.The following table provides the information you have been able to put together thus far:Last year’s manager, Jim Freeland, has advised you to be sure to add 10% of variable cost as a waste allowancefor all categories. You estimate labor cost to be $250.00 (5 booths with 2 people each). Even if nothing is sold,your labor cost will be $250.00, so you decide to consider this a fixed cost. Booth rental, which is a contractualcost at $50.00 for each booth per night, is also a fixed cost.1. a) What is the break-even volume per evening performance?2. b) How much wine would you expect to sell each evening at the break-even point?