Answers the question: It cost a company $50,000 to set up a chip manufacturing plant. The company pays $25 per hour for labor which is the variable input. A portion of the company's production schedule is: Hours of Labor 1000 Number of Chips 200,000 a. Use the information in the above table to calc
Please help answer the following microeconomics questions. What are the financial manager's primary goals with regard to inventory management? How does this goal compare with the inventory goals of production and marketing?
I know this is a long scenario but please just get me started in the right direction. And I know you will not do the assignment for me. I just need help getting started. ClearHear is a manufacturer of cell phones, where Kendra Sherman works as a business development specialist. Kendra anxiously awaits her appointment with Lis
Goal: Create an Excel spreadsheet to perform CVP analysis and show the relationship between price, costs, and break-even points in terms of units and dollars. Use the results to answer questions about your findings. Scenario: Phonetronix is a small manufacturer of telephone and communications devices. Recently, company manag
Answers the question: Describe the relationships among average fixed costs, average variable costs, average total costs, and marginal costs. It is ok for each team to provide an example graph. Finally, describe the shut down point and when a firm might find it necessary to temporarily shut down operations.
Please see attached file. Find TC, AFC, AVC, ATC, and MC for the following table. Also, graph the TC curve on one graph and graph AFC, AVC, ATC and MC on another graph. UNITS FC VC TC MC AFC AVC ATC 0 50 0 1 50 90 2 50 120 3 50 165 4 50 220 5 50 290 1. What does the marginal cost curv
The table below shows a competitive firm's short run production function. labor is the firms only variable input, and market price for the firms product is $2 per unit units of labor units of output 3 370 4 490 5 57
Marketing Management Exercise MKT500 Marketing Management This is an exercise based on the business scenario provided below and you need to understand it thoroughly. NeuTech is planning to market disposable devices made from plastic materials in 6 months. This new product line of devices can be used t
Research a global or regional trade association on the Internet. 750 words Write a 5 paragraph introduction detailing the purposes and activities of the organization. Consider whether there are any groups opposed to them and why. Your Introduction should take a stand supporting or criticizing them, giving your reason.
What is the Law of Diminishing Returns? What is the Law of Increasing Costs? How are these 2 laws related?
FlicroSoft, a monopoly, is considering selling several units of a homogeneous product as a single package. A typical consumer's demand for the product is given by Qd = 50 - 0.25P, and the marginal cost of production is $120. a. Determine the optimal number of units to put in a package. b. How much should the firm charge for t
We are given a scenario and we must write a report with the following information: o Identify alternative solutions to meet the end-state goals o Analyze and evaluate the alternatives that you identified o Perform risk analysis to identify potential risks and negative consequences of the alternative solutions o Make a reco
Suppose that a firm is currently employing 20 workers, the only variable input, at a wage rate of $60. The average product of labor is 30, the last worker added 12 units to total output, and total fixed cost is $3,600. a) What is marginal cost? b) What is average variable cost? c) How much output is being produced? d
Problem: The short run production function for a manufacturer of DVD drivers is as follows: Input of Labor (workers per week) Total output of DVD drivers 0 0 1 25 2
Based on the attachment, answer 4 questions: 1) What alternative solutions are needed to meet the end-state goals? 2)How would you analyze and evaluate those alternative solutions? 3)How would you identify risk analysis to identify potential risks and negative consequences of the alternative solutions? 4)Which one is the bes
Please help with the following problem. a. Given the following chart and information fill in the missing values. Please write on a separate sheet. Note that r = $50 and w = $100. Use a price of $5.50. (see attached file for chart) b. Which input is variable? Fixed? How do you know? c. How many of the variable input
Please help write a small research paper (critique) about 3 pages double spaces where the main focus is a Cost Functions (Model of Short-Run Cost Functions) in the paper include some examples: reference to calculate total fixed cost (TFC), total variable cost (TVC), total cost (TC), average fixed cost (AFC), average variable cos
Answer questions on Comparison of Variable Costing and Absorption Costing attached. Please show work. Youngstown Manufacturing and Chan Manufacturing Company.
Use the following information on a hypothetical short-run production function to answer questions a-d. Units of Labor/Day 5 6 7 8 9 Units of Output/Day 120 140 155 165 168 The price of labor is $20 per day. Ten units of capital are used each day, regardless of output level. The price of capital is $50 per unit. a. Ca
Cost Data (Excel application) TC = 20 + 4Q TC = 20 + 2Q + 0.5Q2 TC = 20 + 4Q - 0.1Q2 Using Excel, calculate all cost curves using a range of quantity from 0 to 15. Total cost Total fixed Cost Total variable cost Average total cost Average fixed cost Average variable cost Marginal cost Plot
I need help in this problem: You have been hired to manage a small manufacturing facility, which has cost and production data given in the table below. Total Total Workers Labor Cost Output Revenue 1 $500 100 $700
Do profit maximizing managers really decide the exact quantity to produce (based on the principle that they would continue to produce as long as marginal revenue exceeds marginal cost) or do they make decisions to accept or reject opportunities to produce additional products for a customer order? If they make decisions on whethe
A firm is making production plans for next quarter, but the manager does not know what the price of the product will be next month. She believes there is a 30 percent chance price will be $500 and a 70 percent chance price will be $750. The four possible profit outcomes are: Profit (loss) when price
Please help with the following problem regarding upgrading manufacturing facilities. You are considering upgrading some manufacturing facilities by purchasing one of three different machines, each with the same production capacity. Machine a costs $30,000, has a life of 40 years, annual maintenance costs of $1500, and salvag
There is a fixed cost of $50,000 to start a production process. Once the process has begun, the variable cost per unit is $25. The revenue per unit is projected to be $45. Find the break-even point.
The Haverford Company is considering three types of plants to make a particular electronic device. Plant A is much more highly automated than plant B, which in turn is more highly automated than plant C. For each type of plant, average variable cost is constant so long as output is less than capacity, which is the maximum output
I need help with these problems, just some brief explanations. 1. At a management luncheon, two managers were overeat arguing about the following statement "A manager should never hire another worker if the new person diminishing returns". Is this statement correct? If so, why? If not, explain why not? 2. Engineers at a
Use the following paragraph to analyze the 3 questions. I just don't get this one! Please show answer and reasoning: Jones Inc. is a monopolist producing and selling a product whose demand is P= 250-6Q. The total cost of production is TC=100+34 Q+3 Q2, and the marginal cost of production is MC= 34+6Q. In order to maximize
1. Explain the difference between short run and long run as they are used in economics. 2. Differentiate between Economics of scale and Diseconomies of scale. 3. Describe and explain a perfectly competitive firm's short run supply curve. 4. Describe characteristics of a perfectly competitive market.
Would you expect there to be a price difference if agricultural commodities are homogeneous? Justify the answer If there is a difference of prices between two states for commodities, how would you account for it?