Question

In: Math

1. Until recently hamburgers at the Erwin Center cost $2 each. The food concessionaire sold an...

1. Until recently hamburgers at the Erwin Center cost $2 each. The food concessionaire sold an average of 10,000 hamburgers on a game night. When the price was raised to $2.40, hamburgers sales dropped off to an average of 8,000 per night. (a) Find the price of a hamburger that will maximize the nightly hamburger revenue. (b) Suppose that the concessionaire has fixed costs of $1,000 per night and the variable cost is $0.60 per hamburger. Find the price of a hamburger that will maximize the nightly hamburger profit.

2. A manufacturer needs to make a cylindrical can that will hold 1.5 liters of liquid. Determine the dimensions of the can that will minimize the amount of material (top, bottom, and sides) used in its construction.

Solutions

Expert Solution

milcah answered 2 years ago
Next > < Previous

Related Solutions

Until recently, hamburgers at the city sports arena cost $ 2.50 each. The food concessionaire sold...
Until recently, hamburgers at the city sports arena cost $ 2.50 each. The food concessionaire sold an average of 2250 hamburgers on game night. When the price was raised to $2.80 hamburger sales dropped off to an average of 2,100 per night. The concessionaire's fixed costs were $1725.20 per night and the variable cost was $1.70 per hamburger. Answer the following questions (A) through (F). (A) Assume that the relationship between price p and demand x is linear. Express p...
Until recently, hamburgers at the city’s sports arena cost $2.20 each. The food concessionaire sold an...
Until recently, hamburgers at the city’s sports arena cost $2.20 each. The food concessionaire sold an average of 9000 hamburgers on game night. When the price was raised to $2.90, the hamburger sales dropped off to an average 5500 sold per night. a. Assuming a linear demand curve, find the price of a hamburger that will maximize nightly hamburger revenue. b. If the concessionaire had fixed costs of $1000 per night, and a variable cost of $0.70 per hambuger, find...
A fast-food restaurant determines the cost and revenue models for its hamburgers. A fast-food restaurant determines...
A fast-food restaurant determines the cost and revenue models for its hamburgers. A fast-food restaurant determines the cost and revenue models for its hamburgers. C = 0.8x + 7100,     0 ≤ x ≤ 50,000 R = 1 10,000 (66,000x − x2),     0 ≤ x ≤ 50,000 (a) Write the profit function for this situation. P =   (b) Determine the intervals on which the profit function is increasing and decreasing. (Enter your answers using interval notation.) increasing     decreasing     (c) Determine how many hamburgers...
Reports have just surfaced that your fast food company sold hamburgers with contaminated beef. The report...
Reports have just surfaced that your fast food company sold hamburgers with contaminated beef. The report is true. As a company manager, develop a plan to handle this crisis.
1. Describe a profit center, cost center and an investment center, explaining how each is distinguished...
1. Describe a profit center, cost center and an investment center, explaining how each is distinguished from the other. Provide an example of each type of center in your business, or if your business is not set up in this fashion, construct an example. 2. What is the relationship between contribution margin and responsibility margin? Explain how each of these measurement tools can be used by to make management decisions.
In a slow year, Deutsche Burgers will produce 2 million hamburgers at a total cost of...
In a slow year, Deutsche Burgers will produce 2 million hamburgers at a total cost of $3.5 million. In a good year, it can produce 4 million hamburgers at a total cost of $4.5 million. What are the fixed costs of hamburger production? (Enter your answer in millions rounded to 1 decimal place.) What are the variable costs when the firm produces 2 million hamburgers? (Enter your answer in millions.) What is the average cost per burger when the firm...
Tokyo Food Supplies Corporation sold an issue of 12-year bonds. The bonds sold at $953 each....
Tokyo Food Supplies Corporation sold an issue of 12-year bonds. The bonds sold at $953 each. After issuance costs, Tokyo Food Supplies received $948 each. The maturity value is $1,000 each and the coupon rate is 11% and paid annually. What is the after-tax cost of debt for these bonds if Tokyo Food Supplies’ marginal tax rate is 35%? P/Y Beg/End N I/Y PV PMT FV 7.69% 11.83% 9.76% 4.14%
Two slits of width 2 μm, each in an opaque material, are separated by a center-to-center...
Two slits of width 2 μm, each in an opaque material, are separated by a center-to-center distance of 6 μm. A monochromatic light of wavelength 450 nm is incident on the double-slit. One finds a combined interference and diffraction pattern on the screen. (a) How many peaks of the interference will be observed in the central maximum of the diffraction pattern? (b) How many peaks of the interference will be observed if the slit width is doubled while keeping the...
Scenario # 2 Your facility is a large children’s hospital in north Texas. Until recently your...
Scenario # 2 Your facility is a large children’s hospital in north Texas. Until recently your facility was part of a larger health care facility run by the state. The facility is now corporately owned and operated. During this reorganization period a major fire occurred at a local elementary school. Over 100 injured children were sent to your facility for care. You encountered many problems: care was delayed and inappropriate for many children because of the nature of their injuries...
Scenario # 2 Your facility is a large children’s hospital in north Texas. Until recently your...
Scenario # 2 Your facility is a large children’s hospital in north Texas. Until recently your facility was part of a larger health care facility run by the state. The facility is now corporately owned and operated. During this reorganization period a major fire occurred at a local elementary school. Over 100 injured children were sent to your facility for care. You encountered many problems: care was delayed and inappropriate for many children because of the nature of their injuries...
ADVERTISEMENT
Subjects
ADVERTISEMENT
Latest Questions
ADVERTISEMENT