Question
In: Economics
Conigan Box Company produces cardboard boxes. The market is highly competitive, with boxes currently selling for...
Conigan Box Company produces cardboard boxes. The market is
highly competitive, with boxes currently selling for $10 per box.
Conigan's total curves are:
TC = 10 + 4q + q2
where Q is measured in thousand box bundles per year.
a. Calculate Conigan's profit maximizing quantity, q=??? What is
the firm profit? profit=??? (please enter integers, if it's a
negative number, for example, please enter -5)
b. Analyze Conigan's position in terms of the shutdown condition.
Should Conigan operate or shut down in the short run? ??? Please
enter "operate" or "shut down"
Solutions
Rahul Sunny answered 2 years agoRelated Solutions
Kiki Box Company produces cardboard boxes that are sold in bundles. The market is perfectly competitive,...
Kiki Box Company produces cardboard boxes that are sold in
bundles. The market is perfectly competitive, with boxes currently
selling for price of $100 per bundle. Kiki’s total and marginal
cost, where Q is measured in number of bundles per year, are:
TC = 2,000,000 + 0.001Q2
MC = 0.002Q
Calculate Kiki’s profit maximizing quantity.
Calculate total profits earned by this firm.
Identify the fixed cost.
Cardboard boxes are produced in a perfectly competitive market. Each identical firm has a short-run total...
Cardboard boxes are produced in a perfectly competitive market.
Each identical firm has a short-run total cost curve of TC = 2Q^3 -
12Q^2 + 10Q + 20 where quantity is measured in thousands of boxes
per week. The marginal cost of production is given by MC = 6Q^2
-24Q + 10. Calculate the price below which a firm in the market
will not produce
any output (the shut-down price).
Two cardboard boxes full of books are in contact with each other on a table. Box...
Two cardboard boxes full of books are in contact with each other
on a table. Box H has twice the mass of box G (20 kg). If you push
on box G with a horizontal force 250 N, then box H will experience
a force of (assume a smooth surface)
A Packaging Company produces boxes out of cardboard that has a specified weight of 30 oz....
A Packaging Company produces boxes out of cardboard that has a
specified weight of 30 oz. It is known that the weight of a box is
normally distributed with standard deviation σ =1.3 oz. A random
sample of 16 boxes yielded a sample mean of 30.7 oz. At 5% level of
significance, test the claim that the mean weight of a box is more
than 30 oz.
State what is given, what are the hypothesis, what is the test
statistic,...
The Packaging Company produces boxes out of cardboard and has a specified weight of 8 oz....
The Packaging Company produces boxes out of cardboard and has a
specified weight of 8 oz. A random sample of 20 boxes cans yielded
a sample mean of 7.5 oz. Given the data's distribution is normally
distributed and standard deviation is 1.4 oz, for a 95% confidence
interval, what is the lower confidence limit? What is the standard
error? What is the estimated margin of error?
The Packaging Company produces boxes out of cardboard and has a specified weight of 8 oz....
The Packaging Company produces boxes out of cardboard and has a
specified weight of 8 oz. A random sample of 20 boxes cans yielded
a sample mean of 7.5 oz. Given the data's distribution is normally
distributed and standard deviation is 1.4 oz, for a 95% confidence
interval, what is the critical statistic?
A Chip Company claims that there is 32 oz in every bag of chips
with a specified population standard deviation of 1.5. A sample of
40 bags...
Boxes Ltd manufactures two types of boxes, plastic and cardboard, and currently it applies manufacturing overhead...
Boxes Ltd manufactures two types of boxes, plastic and
cardboard, and currently it applies manufacturing overhead to all
units at the rate of $50 per direct labour hour. Production
information is as follows:
Product Information
Plastic box
Cardboard box
Direct material cost per unit
$20
$10
Direct labour cost per hour
$20
$10
Number of units produced
100,000
200,000
The management accountant Sally suggests that Activity-Based
Costing (ABC) is more appropriate for the firm. She suggests the
firm’s overhead...
What is the Process Strategy of a cardboard boxes company ?
What is the Process Strategy of a cardboard boxes company ?
The firm, competing in a very highly competitive market, is manufacturing and selling headphones. The firm’s...
The firm, competing in a very highly competitive market, is
manufacturing and selling headphones. The firm’s total revenue and
cost functions are:
Rq=q3+14q2+35q+40
Cq=13q3+20q2+19q+15
How many headphones must the firm manufacture and sell to
maximize profits?
What will be the price the firm must charge to its customers to
maximize profits?
What will be the average revenue generated for each unit sold
and what will be the average cost of producing a headphone?
What are aggregate planning and scheduling in cardboard boxes company?
What are aggregate planning and scheduling in cardboard boxes
company?
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