In May 1991, Car and Driver described a Jaguar that sold for 980,000 dollars. Suppose that at that price only 60 have been sold. If it is estimated that 375 could have been sold if the price had been 590,000 dollars. Assuming that the demand curve is a straight line, and that 590,000 dollars and 375 are the equilibrium price and quantity, find the consumer surplus at the equilibrium price. surplus = thousands of dollars
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- You are managing a firm with market power, and you think the price elasticity of demand for your product is between 1.3 and 1.5. You estimate that your marginal cost is between $55 and $70. The price that you should set would range between $ ☐ and $ ☐. (Round your answers to two decimal places.) If you refine your estimate of the marginal cost to $80, the price you should set would now range between $ and $ (Round your answers to two decimal places.)Suppose that the demand for a product is given by Q = 25-0.25P. If the product's price is $128 per unit, how many units will consumers be willing to buy? 0 25Keep two decimals for all answers if needed. Assume a firm’s fixed cost is $1003, its product has a variable cost of $42, and a selling price of $87. What is the break-even point? How many units must be sold to make a total profit of $500?
- I have the following additional questions: 1) Calculate the breakeven point in dollars under the current scenario 2) Calculate the number of units to be sold if the company desires a target profit of $225,000. 3) Calculate the sales dollars if the company desires a target profit of $225,000.The estimated monthly sales of Mona Lisa paint-by-number sets is given by the formula q = 103e0-3p²/2, where q is the demand in monthly sales and p is the retail price in hundreds of yen. (a) Determine the price elasticity of demand E when the retail price is set at ¥400. E = Interpret your answer. The demand is going? by % per 1% increase in price at that price level. Thus, a large price? (b) At what price will revenue be a maximum? (Round your answer to the nearest integer.) yen ✓is advised. (c) Approximately how many paint-by-number sets will be sold per month at the price in part (b)? (Round your answer to the nearest integer.) paint-by-number sets per monthA clothing company has determined that if the price of a T-shirt is K40, then 150 will be demanded by T-shirt wearers. When the price is K45, then 100 T-shirts are demanded by T- shirts wearers.(a) Find the price-demand equation, assuming that it is linear.(b) Find the revenue function.(c) Find the number of items sold that will give the maximum revenue. What is the maximum revenue?(d) What is the price of each item when maximum revenue is achieved?
- Groove auto is considering the introduction of a new model of wireless speakers with the following price and cost characteristics.sales price 443.00 per unit.variable cost 203.00 per unit.fixed costs 715,000assume that the projected number of units sold for the year is 4 400.consider requirement b,c,d independent from each other. [a] What will the operating profit be? [b] What is the impact of operating profit if the sales price decreases by twenty percent increases by ten percent? [c] What is the impact on operating profit A veritable cost per unit decrease by ten percent increase by twenty? [d] Suppose that fixed costs for the year are 20% lower. Than projected and bearable costs per unit are 10% higher than projected. What impact will these costs changes have on operating profit for the year Kindly solve b c and dMany times the selling price of a product p, is related to demand D, according to the relationship p=a - bD. However, a company has found that the price of their product can be related to demand (in units per year) according to the following equation: p=108.5 – 2.08D⁰.75. In addition, there is a fixed cost of P50,000 per year and the variable cost tomanufacture the product is P68 per unit. What is the level of demand which maximizes sales? What is the maximum sales? What level of demand maximizes profit? What is the maximum profit? What are the breakeven quantities of this product if p=678.39-1.08D?A company is assessing granting credit to a new customer. The variable cost per unit is $88, the current price is $115, the probability of default is 34% and the monthly required return is 4.0%. Calculate the NPV of the switch. Assume the customer will purchase once.
- The figure below shows graphs of the fixed cost function, total cost function and the total revenue function for a certain commodity. 20 Dollars ($) 8000 7000 6000 5000 4000 3000 2000 1000 -10 -1000+ 10 20 30 (a) What is the break-even point? e.g. (295,7650) (b) What are the fixed costs? $ Percent of capacity= 40 Units TR TC If the selling price per unit is $100, and the variable cost per unit is $20: FC 50 60 70 80 90 100 enter the answer in the form (x,y) (c) If the maximum production capacity of the commodity is 100, express the break-even units as a percent of capacity? % (round to two decimal places if necessary)A company operates in a competitive marketplace. They look to the market to determine their selling price. It looks like the market will bear a price of $438. The company has a goal of earning 10% return on sales on each unit. What would their target cost be? Round your answer to the nearest whole dollar.APPLY THE CONCEPTS: Use the CVP graph to analyze the effects of changes in price and costs Graph the following on your own paper. At the original position, the break-even point in sales dollars is $24,000 at 500 units. The fixed costs are $8,000. Assume the slope of the sales line is equal to the selling price. When the two points of the sales line are at the origin and the break-even point, you see that the slope of the line is $48, which means that the selling price is $ When the two points of the total costs line are at the origin and the break-even point, you see that the slope of the line is $32.00, which means that the variable cost per unit is $ Leave the break-even point (x) at its original position. Use it as a reference point to answer the following questions. Analyze the scenarios by sliding the points on the lines to get the slope desired. Recall that the new break-even point for each scenario exists where the sales and total costs lines intersect. Compare it to the…