Consider a monopoly with a sort run total cost of TC= 36+Q^2 - and marginal cost: MC=2Q - facing a market demand curve of P=36-Q.
QUESTION: Graph and calculate the consumer surplus, profit, and deadweight loss to welfare.
In: Economics
Consider a monopolist with a total cost of TC=9+Q and marginal cost of $1 (MC=1). The monopolist faces a demand curve of P=11-Q.
1. Graph the monopolist
2. Find price and quantity that the monopolist charges.
3. Find the profit and consumer surplus.
4. Find the deadweight loss to welfare.
In: Economics
A star near the visible edge of a galaxy travels in a uniform circular orbit. It is 48,400 ly (light-years) from the galactic center and has a speed of 275 km/s.
a) Estimate the total mass of the galaxy (billion solar mass) based on the motion of the star. Gravitational constant is 6.674×10−11 m3/(kg·s2) and mass of the Sun Ms=1.99 × 1030 kg.
b) The total visible mass (i.e., matter we can detect via electromagnetic radiation) of the galaxy is 1011 solar masses. What fraction of the total mass of the galaxy is visible, according to this estimate?
In: Physics
An Ontario farmer owns two orchards, one near the lakeshore and one near the escarpment (a high cliff that runs south of Lake Ontario). He wants to find out if topography plays a role in the development of his apples. From the lakeshore orchard, he randomly collects 15 apples which have an average weight of 86g and a standard deviation of 7. From the escarpment orchard, he randomly collects 10 apples with an average weight of 80g and a standard deviation of 8. Is there a difference in the weight of the apples at both locations?
In: Statistics and Probability
| Case | Prime Cost | Conversion Cost | Direct Materials | Direct Labor | Manufacturing Overhead | Total Manufacturing Cost |
| A | 9,480 | 16,460 | 4,040 | 11,020 | ||
| B | 10,010 | 7,330 | 25,200 | 42,540 | ||
| C | 55,700 | 110,300 | 42,300 | |||
| D | 48,150 | 19,900 | 11,750 | 68,050 | ||
| E | 14,000 | 24,300 | 56,200 |
For each of the following independent cases (A–E), compute the missing values in the table:
In: Accounting
Illustrate the per unit cost graph. You must include average total cost, average fixed cost, average variable cost and marginal cost.
In: Economics
Sam's Cat Hotel operates 5252 weeks per? year, 77 days per? week, and uses a continuous review inventory system. It purchases kitty litter for ?$10.7510.75 per bag. The following information is available about these bags. Refer to the standard normal table LOADING... for? z-values.
Demand = 100 bags/weeks
Order cost = $56/order
Annual Holding Cost = 30 percent of cost
Desired cycle-service level =99 percent Lead time = 2 weeks (14 working days)
Standard deviation of weekly demand = 10 bags
Current on-hand inventory is 315 bags with no open orders or backorders
d. The store currently uses a lot size of 495 bags (i.e, Q =495).
What is the annual holding cost of this policy? The annual holding cost is ??? (Enter your response and round to two decimal places)
What is the annual ordering cost? The annual ordering cost is ??? (Enter your respone and round to two decimal places)
Without calculating the EOQ, how can you conclude from these two calucations that the current lot size is too large? Select the correct answer from the multiple choice below.
A. When Q= 495, the annual holding cost is larger than the ordering cost, therefore Q is too large.
B. There is not enough information to determine this.
C. When Q=495, the annual holding cost is less then the ordering cost, therefore Q is too small.
D. Both quantiies are appropriate.
Please answer the following questions for section e.
e. What would be the annual cost saved by shifting from the 495 bag lot size to the EOQ?
The annual holding cost with the EOQ is ??? (Enter your response rounded to two decimal places)
The annual ordering cost with the EOQ is ??? (Enter your response rounded to two decimal places)
Therefore, Sam's Cat Hotel saves ??? by shifting from the 495 bag lot size to the EOQ? (Enter your response rounded to the nearest two decimal places)
In: Operations Management
Samuelson and Messenger (SAM) began 2021 with 360 units of its one product. These units were purchased near the end of 2020 for $20 each. During the month of January, 180 units were purchased on January 8 for $23 each and another 360 units were purchased on January 19 for $25 each. Sales of 170 units and 270 units were made on January 10 and January 25, respectively. There were 460 units on hand at the end of the month. SAM uses a periodic inventory system. Required: 1. Calculate ending inventory and cost of goods sold for January using FIFO. 2. Calculate ending inventory and cost of goods sold for January using average cost.
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In: Accounting
Matt and Lisa are driving together to a shopping mall, looking forward to buying some clothes. Matt wants to stop by Sports Authority to buy the new jersey of his favorite hockey team, whereas Lisa wants to go to Banana Republic to buy a new outfit. Both find the idea of going together to both stores a little boring, so they agreed beforehand to split and go individually to their desired store. After shopping individually, they decide to meet at Applebee’s to grab some food before leaving. The Banana republic, the Sports Authority shops and the Applebee’s are located at (2, 3), (5, 5) and (1, 4), respectively. Suppose that the parking lot is located in a straight line given by the function y = 1/3x − 1. That is, customers can park in the mall as long as they do it on top of the line. 3-1. Assuming rectilinear distances, where should they park the car in order to minimize the total distance they must walk? Explain your results. 3-2. Suppose Matt is recovering from a leg injury, so they decided that Matt’s walking distance is twice as valuable as Lisa’s walking distance. Find the new optimal parking spot.
In: Advanced Math
Bramble Corporation builds in-home theater systems. Bramble’s
business is growing quickly. Therefore, the CEO, Paul Bramble,
decides to purchase three new trucks on September 20, 2017. The
terms of acquisition for each truck are described below.
| 1. | The first truck’s list price is $ 26,040. Bramble exchanges home theater equipment from its inventory for the truck. The home theater equipment cost Molitor $ 16,120. Bramble normally sells the equipment for $ 24,490. Bramble uses a perpetual inventory system. | |||||||||||||||||||||||||||||||||||||||||||||||||
| 2. | The second truck has a list price of $ 27,280. Bramble makes a down payment of $ 6,200 cash on this truck and signs a zero-interest-bearing note with a face amount of $ 21,080. Payment of the note is due September 20, 2018. Bramble would normally have to pay interest at a rate of 8% for such a borrowing. | |||||||||||||||||||||||||||||||||||||||||||||||||
| 3. |
The list price of the third truck is $ 23,808. This truck is acquired in exchange for 1,488 shares of common stock in Bramble Corporation. The stock has a par value per share of $ 10 and a market price of $ 15 per share. Prepare the appropriate journal entries for the above
transactions for Flounder Corporation. (Round present
value factors to 5 decimal places, e.g. 0.52587 and final answers
to 2 decimal places, e.g. 5,275.50. Credit account titles are
automatically indented when amount is entered. Do not indent
manually.)
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In: Accounting