Determine the output that would generate a total profit of $ 60,000 and the total sales revenues at that output level; draw the cost-volumeprofit chart.
Spreadsheet problem 1: For the following table, calculate in Excel the average fixed costs( AFC), the average variable cost( AVC), the average total costs( ATC), and the marginal costs( MC).( note total fixed cost =$ 30)
Salvatore’ s Chapter 9: a) Problems: 7, 11, and spreadsheet problem 1.
Problem 7: From figure 9-4, determine the effect of a 33 percent tariff on commodity X
Problem 11: Most book publishers pay authors a percentage of the revenue from book sales. Explain the conflict that this creates between publishers and authors.
Spreadsheet problem 1: If the market supply function of a commodity is QS = 3,250 and
a) the market demand function is QD = 4,750-50P is expressed in dollars, use Excel to calculate values QD and QS for P from 25 to 50 in 1’ s.
b) If the market demand increased to Q’ D = 5,350-50P, what is the equilibrium price?
c) If the market demand decreased to Q’’ D = 4,150-50P, what is the equilibrium price?
d) For( a)-( c), if TC = 0.005Q2-Q, what is the profit in each case? Froeb et al.’ s Chapter 9:
a) Individual problems: 9-3 and 9-4.